Soybeans up 5¢. Tuesday, August 27, 2024
December corn is up 1¾¢ this morning.
USDA announced this morning Mexico is buying 127,760 metric tons of corn for the 2024/2025 marketing year.
November soybeans are up 5¢.
December wheat contracts are higher. CBOT wheat is up 3¾¢. KC wheat is up 1½¢. Minneapolis wheat is up 1¼¢.
“Grain and soybean futures stuck to narrow trading ranges in a dull early session as USDA’s weekly Crop Progress report provided little fresh news to generate price movement,” The Brock Report said prior to the 8:30 a.m. market open. “Corn futures wound up little changed after rallying late in the session to erase earlier losses, while soybean futures also finished the early session strongly on technical buying. Wheat futures remained under pressure from ample U.S. supplies and stiff export market competition.”
October livestock contracts are higher this morning. Live cattle are up $1.20. Feeder cattle are up $1.05. Lean hogs are up 13¢.
October crude oil is down 82¢.
The U.S. Dollar Index September contract is down to 100.65.
September S&P 500 futures are down 9 points. September Dow futures are down 49 points.
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