Soybeans start day up 19¢. Tuesday, December 13, 2022
This morning corn is up 4¢ while soybeans are up 19¢.
CBOT wheat is up 7¢. KC wheat is up 8¢. Minneapolis wheat is up 10¢.
Naomi Blohm with Total Farm Marketing says soybeans are benefitting today from the forecast of dry weather in Argentina and southern Brazil.
Live cattle are up 35¢. Lean hogs are up 40¢. Feeder cattle are down 23¢.
The November Consumer Price Index released this morning found inflation is up 7.1% from a year ago, below expectations according to Blohm and below the 9.1% peak earlier this year.
The U.S. Dollar Index is down in response, to 103.3.
The S&P 500 is up 106 points. The Dow is up 566 points.
Crude oil is up $1.90 this morning to roughly $75 a barrel. Blohm says oil prices likely improved after hitting $70 in response to President Joe Biden’s announcement several months ago that the government would buy around the $70 mark.
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