Grains start day mixed. Tuesday, March 28, 2023
Corn is currently up 1⁄4 of a penny.
Soybeans are up 10¢.
China is buying more corn. This morning USDA announced the sale of 136,000 metric tons for the 2022/2023 marketing year.
CBOT wheat is down a penny. KC wheat is up 4¢. Minneapolis wheat is down 3⁄4 of a penny.
Live cattle are down 25¢. Lean hogs are down 35¢. Feeder cattle are up 5¢.
Crude oil is down a penny to $72.80 a barrel. Al Kluis, managing director of Kluis Commodity Advisors, says crude oil’s current rally is bullish for the entire commodity complex.
Nick Tsiolis, founder of Farmer’s Keeper, says we have officially entered into the U.S. weather market.
“Forecasts look cold and wet into April,” he says. “That, and a couple feet of snow in the northern planes has those producers convinced planting will be delayed. That’s not necessarily a ‘crop scare’ but it could give markets something to get excited about for a few weeks.”
S&P 500 futures are currently down 6 points. Dow futures are up 40 points.
Read also
Palm oil prices are expected to continue rising after a short-term correction
Georgia reduced wheat imports in April
Brazilian soyabean oil exports jump 47% amid record crop and weak domestic demand
Zimbabwe plans new grain import levies to strengthen food security
Global vegetable oil production to hit record high again – USDA
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon