Wheat in the green again today. Thursday, October 10, 2024
December corn is down down less than a penny this morning.
November soybeans are down 3¼¢.
December wheat contracts are higher again today. CBOT wheat is up 7¢. KC wheat is up 9¢. Minneapolis wheat is up 6¼¢.
“Wheat futures were stronger for a fourth straight day in early trade amid continued concerns about dry weather in key world winter wheat areas and speculation Russia is about to cap exports,” said The Brock Report this morning about the overnight session. “Corn futures followed wheat higher overnight but faded late in early trading amid harvest pressure. Soybean futures suffered small losses under pressure from fast U.S. harvest progress and forecasts for more rainfall in Brazil and Argentina.”
This morning USDA released the weekly U.S. Export Sales report for the week ending Oct. 3.
According to The Brock Report: “Net U.S. corn export sales for the week ended Oct. 3 came in at 48.1 million bushels, in line with trade expectations that ran 39.5 to 59 million bushels and down from the previous week’s sales of 66.3 million bushels. The sales total looks neutral to slightly negative for corn futures prices.
“Net weekly U.S. soybean export sales came in at 46.5 million bushels, near the low end of trade expectations that ran 44 to 66 million bushels and down from the previous week’s sales of 53.3 million. The sales total should be neutral to negative for soybean futures.
“Net weekly U.S. wheat export sales came in at 16.1 million bushels, in line with trade expectations that ran 9 to 20 million bushels and down slightly from the previous week’s sales of 16.3 million bushels. The sales total looks to be neutral for wheat prices.”
December live cattle are down 53¢ this morning. November feeder cattle are down 70¢. December lean hogs are up 30¢.
November crude oil is up 86¢.
The U.S. Dollar Index December contract is down to 102.63.
December S&P 500 futures are down 20 points. December Dow futures are down 139 points.
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