Soybeans start the day down 12¢. October 15, 2024

The grain markets closed lower on Monday as rain moved into Brazil and Argentina with more on the way. The strong U.S. dollar and sharply lower energy prices added to the selling pressure. This morning, the U.S. dollar is a fraction higher while energy prices continue to drop.

At this hour, December corn futures are down 2¢, November soybean futures are down 12¢, and wheat futures are 5¢ to 6¢ lower. The next support for December corn is at $4 with November soybeans having support at $9.80.

The stock market in China is down 3.7%. Stocks in Japan are up 0.7%. European stocks are down 0.4%.

In the U.S. Outside Markets, the U.S. Dollar Index is down 0.21 points at 103.08, and crude oil is down $3.65 per barrel at $70.17. Gold is up $1 per ounce and the U.S. stock market is mixed with the S&P 500 up 3 points and the Dow down 280 points.

In the livestock markets today, December hogs are up 60¢, October cattle are down $1.20, and November Feeder cattle are down $2.37.

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Tags: corn, soybeans, wheat, futures, live cattle, feeder cattle, lean hogs