Grains start day in the red. Tuesday, February 28, 2023
May corn is down 3¢ this morning, while May soybeans are down 24¢.
CBOT wheat is down 5¢. KC wheat is down 4¢. Minneapolis wheat is down 3¢.
Al Kluis with Kluis Commodity Advisors says he doesn’t expect the corn market to bottom out until the wheat market turns higher.
He adds the next long-term chart support for both corn and wheat is down another 20 cents per bushel.
Live cattle are down 15¢. Lean hogs are up 28¢. Feeder cattle are up 5¢.
Crude oil is up $1.40.
June U.S. Dollar Index futures are at 104.25.
S&P 500 futures are down 4 points.
Dow futures are down 131 points.
Outside of the U.S., milling wheat is down on the MATIF trade. Corn and soybeans are down on the Dalian trade.
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