Soybeans up 10¢. Tuesday, July 23, 2024
December corn is up 4½¢ this morning.
November soybeans are up 10¼¢.
September wheat contracts are mixed. CBOT wheat is down less than a penny. KC wheat is up 2¼¢. Minneapolis wheat is up 2½¢.
“Corn and soybean futures rallied strongly in the final 15 minutes of early trade to extend gains on further short covering due to unwinding of the so-called ‘Trump trade’ and Monday’s technical strength,” says The Brock Report. “Favorable U.S. crop ratings remain a negative market factor. Wheat futures slipped lower overnight under renewed pressure from abundant U.S. supplies and stiff export competition.”
This morning USDA announced unknown destinations are buying 200,000 metric tons of corn for the 2024/2025 marketing year.
October live cattle are down 10¢ this morning. August feeder cattle are up 3¢. October lean hogs are up $1.28.
September crude oil is down 93¢.
The U.S. Dollar Index September contract is up to 104.22.
September S&P 500 futures and Dow futures are up 12 points and 70 points, respectively.
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