Weaker Movement in Grains. Wednesday, Feb. 19, 2025
May corn was down 1½¢ at $5.14¼ per bushel just before 9 a.m. CT.
May soybeans dropped 1¼¢ at $10.54¼ per bushel.
“March corn broke through what had been solid resistance at the $5 level, closing above it for the first time since last May.” Angie Setzer, Partner with Consus Ag Consulting said just before the Wednesday open, “Strong demand remains the focus in the corn market, as limited supplies elsewhere have the U.S. export program running well ahead of [February] USDA projections.”
May wheat contracts saw a mixed trade to start the morning. CBOT wheat was down 5¼¢ at $6.12½ per bushel. KC wheat was 4¼¢ fewer at $6.35 per bushel. Minneapolis wheat saw some green, 1¼¢ higher at $6.57 per bushel.
Halfway through the week, there was also mixed trade in livestock. April live cattle was 37¢ stronger at $194.40 per hundredweight (cwt). March feeder cattle increased 2¢ at $269.75 per cwt. April lean hogs were 92¢ lower at $92.27 per cwt.
March crude oil was 99¢ higher at $72.82 per barrel.
March S&P 500 futures were down 11 points. March Dow futures fell 143 points.
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