Soybeans down 12¢. Wednesday, January 17, 2024
March corn is up 4¢ this morning. March soybeans are down 12¢.
CBOT wheat is up 7½¢. KC wheat is up 2¢. Minneapolis wheat is flat.
“Despite a flash sale of corn and the National Oilseed Processors Association reporting December as the largest crush month of all time yesterday, the market did not react kindly,” says Jeremy McCann, account manager for Farmer’s Keeper. “Exports are still lackluster compared to years prior and we also learned that Argentina is expected to have record corn and soybean crops.
“The world market is not being kind to our domestic one and for many producers that spells trouble with input prices not dropping enough to be in line with the losses in the market. It’s especially important for producers to have a marketing plan for the ’24 crop to try their best to ensure profitable sales. If this market outlook persists it will certainly be easier said than done.”
Live cattle are currently down 68¢. Feeder cattle are down 23¢. Lean hogs are down 53¢.
Crude oil is down 92¢.
S&P 500 futures are down 33 points. Dow futures are down 58 points.
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