Soybeans start day up 20¢. Wednesday, November 8, 2023
December corn is up 6¾¢ this morning while January soybeans are up 20¾¢.
CBOT wheat is up 12¼¢. KC wheat is up 11½¢. Minneapolis wheat is up 8¼¢.
“The USDA reported a flash sale of soybeans to China yesterday in addition to rumors of more sales,” says Jeremy McCann, account manager for Farmer’s Keeper. “That news, on top of an unfavorable forecast for Brazil, is keeping the soybean rally alive.
“Corn on the other hand traded to a new harvest low yet again yesterday. The corn market is struggling to find length especially as the trades are estimating an increase to corn production in tomorrow’s crop production report.”
Live cattle are down 60¢. Lean hogs are down $1.03. Feeder cattle are down $1.93.
Crude oil is down 72¢.
S&P 500 futures are up 7 points. Dow futures are up 50 points.
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