Soybeans losing some gains. Thursday, October 19, 2023
December corn is up 3¼¢ this morning.
November soybeans are down 5½¢.
CBOT wheat is up 4½¢. KC wheat is up less than a penny. Minneapolis wheat is down less than a penny.
This morning USDA released the weekly Export Sales report. For the week ending on October 12, net sales of corn, soybeans, and wheat for the 2023/2024 marketing year all fell within the expected range.
- Corn: Net sales of 881,300 metric tons
- Soybeans: Net sales of 1,371,900 metric tons
- Wheat: Net sales of 632,800 metric tons
Live cattle are down 50¢ this morning. Lean hogs are up 78¢. Feeder cattle are down $1.10.
Crude oil is down 67¢.
“Crude oil futures continue to trade with high volatility,” said Bob Linneman, commodities broker for Kluis Commodity Advisors, during today’s early morning trade. “The close yesterday was above the 20-day average for the first time since September 29. However, prices are trading below that technical target this morning. The big swings will continue until tensions ease in Israel.”
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