Soybeans making gains this morning. Wednesday, August 14, 2024
December corn is down less than a penny this morning.
November soybeans are up 7¼¢.
September wheat contracts are mixed. CBOT wheat is up less than a penny. KC wheat is down 4¢. Minneapolis wheat is down less than a penny.
Livestock are currently in the green. October live cattle are up 33¢. September feeder cattle are up $1.05. October lean hogs are up $2.30.
September crude oil is down 18¢.
The U.S. Dollar Index September contract is down to 102.23.
“We’re beginning to see a fairly steady stream of flash export sales in both corn and beans as our price decline is augmented by recent reaffirmation of the downtrend in the U.S. dollar to put prices below those of Brazil,” says the Commstock Report.
“The pressure on the dollar stems from increasing confidence that easing inflation and worrisome employment numbers make a 50-point [0.5%] cut in interest rates by the U.S. Federal Reserve all but certain for September, and some thinking there might even be another cut before year end.”
September S&P 500 futures are down 5 points. September Dow futures are up 52 points.
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