Grains start day mixed. Thursday, January 11, 2023
March corn is currently down 2¢.
March soybeans are up 2¼¢.
CBOT wheat is down 5¢. KC wheat is down 4¾¢. Minneapolis wheat is down 3¼¢.
This morning USDA released the weekly Export Sales report for the week ending Jan. 4.
“Net U.S. corn export sales for the week ended Jan. 4 came in at 19.2 million bushels, toward the low end of trade estimates that ran 15.5 – 47.0 million bushels and up only slightly from the previous holiday-shortened week’s 14.5 million,” says The Brock Report. “This was another holiday-shortened week, but the sales data looks negative for corn futures. On the positive side, corn export sales for 2023-2024 to date of nearly 1.192 billion bushels were 37.6% above a year earlier. Also, weekly corn export shipments of 40.8 million bushels were up 14.0 million from a week earlier.
“USDA did have some good export news for the corn market today as it reported that exporters sold 175,000 metric tons of U.S. corn to Mexico for 2023-2024 delivery. This was USDA’s first daily export sales announcement since Dec. 19.”
Live cattle are down 30¢. Feeder cattle are down 68¢. Lean hogs are up 25¢.
Crude oil is up $1.67.
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