Grains Start Day Mixed. Wednesday, November 20, 2024
December corn is down less than a penny this morning.
“I am watching the corn cash bids invert as strong export demand, strong processor demand, and slow farmer selling are keeping cash prices moving higher,” said Al Kluis, managing director of Kluis Commodity Advisors, this morning during the overnight session. “The March-to-July corn spread is down to just 11¢.”
January soybeans are down 8¢.
This morning USDA announced new soybean sales:
- China is buying 202,000 metric tons of soybeans for the 2024/2025 marketing year.
- Unknown destinations are buying 226,200 metric tons of soybeans for the 2024/2025 marketing year.
March wheat contracts are mixed. CBOT wheat is up 1¼¢. KC wheat is up 2¼¢. Minneapolis wheat is down less than a penny.
February live cattle are up 18¢. January feeder cattle are up 28¢. February lean hogs are up 30¢.
January crude oil is up 36¢.
The U.S. Dollar Index December contract is up to 106.74.
December S&P 500 futures are down 27 points. December Dow futures are down 74 points.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
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