Soybeans down nearly 8¢. Wednesday, December 4, 2024
March corn is bouncing between being unchanged to slightly higher this morning.
January soybeans are down 7¾¢.
March wheat contracts are mixed. CBOT wheat is down less than a penny. KC wheat is up 1¾¢. Minneapolis wheat is up 2¾¢.
This morning, USDA announced South Korea is buying 30,000 metric tons of soybean oil for the 2024/2025 marketing year.
Naomi Blohm, senior market advisor at Total Farm Marketing, said grains are being supported by strong ethanol, crush, and export demand, but good weather in South America is limiting the potential for a price rally.
February live cattle are down 10¢ this morning. January feeder cattle are down 93¢. February lean hogs are down $1.08.
January crude oil is down 9¢.
The U.S. Dollar Index December contract is up to 106.36.
December S&P 500 futures are up 17 points. December Dow futures are up 173 points.
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