Prices start day in the red. Tuesday, January 17, 2022
This morning, corn is down 2¢ and soybeans are down 12¢.
CBOT wheat is down 7¢. KC wheat is down 8¢. Minneapolis wheat is down 9¢.
Live cattle are down 55¢. Feeder cattle are down 75¢. Lean hogs are up $1.58.
Al Kluis with Kluis Commodity Advisors says prices are under pressure this morning due to rain in Argentina over the three-day weekend and increased concern over a global economic slowdown.
Kluis also says the weather pattern in Argentina may be changing, which would help crop yield.
Crude oil is up $1.11 this morning.
The U.S. Dollar Index is down to 101.7.
The S&P 500 is up 2 points. The Dow is down 187 points.
Outside of the U.S., milling wheat is down on the European MATIF trade. On the Chinese Dalian trade, March corn is down. March soybeans are up.
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