Soybeans down 19¢ at the open. Wednesday, November 16, 2022
This morning soybean futures are down 19¢ and corn futures are down 6¢.
CBOT wheat is down 20¢. KC wheat is down 15¢. Minneapolis wheat is down 12¢.
Prices were elevated yesterday afternoon upon news of a Russian missile strike that crossed the Ukraine-Poland border and killed two Poles. Overnight into this morning those gains are being returned.
Al Kluis with Kluis Commodity Advisors says this attack may escalate the war and be “short-term bullish” for commodities.
Live cattle are unchanged. Lean hogs are up 38¢. Feeder cattle are up 90¢.
Crude oil is down $1.77. The U.S. Dollar Index is down 0.18 points.
Milling wheat on the European MATIF trade is down. Corn and soybeans are down on the Chinese Dalian trade.
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