Soybeans start day up 12¢. Friday, January 19, 2024
March corn is currently up 3¢.
March soybeans are up 12¼¢.
CBOT wheat is up 11¼¢. KC wheat is up 9¾¢. Minneapolis wheat is up 9½¢.
This morning USDA released the weekly Export Sales report. Here is analysis of the report from Naomi Blohm, senior market advisor with Total Farm Marketing:
Corn and Wheat Weekly Export Sales – BETTER THAN EXPECTATIONS:
- Weekly corn exports came in at 1.25 million metric tons, way above expectations of 500,000 metric tons to 1.2 million metric tons (and up from 487,600 metric tons reported last week by USDA)
- Wheat exports were huge at 707,600 metric tons and well above expectations of 150,000 to 500,000 metric tons (versus 128,100 metric tons last week)
- Soybeans sales were decent at 781,300 metric tons, in between estimates of 400,000 metric tons to 900,000 metric tons, (versus 280,400 metric tons reported last week).
This morning USDA also announced a new export sale. China is buying 297,000 metric tons of soybeans for delivery during the 2023/2024 marketing year.
Live cattle are down 28¢. Feeder cattle are down 5¢. Lean hogs are down 33¢.
Crude oil is up 55¢.
S&P 500 futures are up 8 points. Dow futures are up 19 points.
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