Wheat In the Red. Monday, November 11, 2024
The grain markets have turned lower with wheat futures getting hit hard. Last week the corn and soybean markets posted impressive gains after the bullish USDA reports. Wheat futures closed mixed to lower.
The main factor today is the major rainfall event that moved through the dry areas of the southern plains. This pressured wheat prices, and then weighed on corn and soybean prices when wheat prices fell 16¢ to 20¢ lower.
The stock market in China is up 2% as the rally continues. Stocks in Japan are 1% higher. European stocks are up 0.1%.
This morning, December corn futures are down 3¢, January soybean futures are 42¢ lower, and wheat futures are 12¢ to 17¢ lower. Even though corn and soybean prices are lower, the bull spreads continue to work
The U.S. Dollar Index is up 0.43 points at 105.42. Crude oil is down $2.20 per barrel at $68.18. S&P futures are up 10 points at 6,035. Dow futures are 371 points higher at 44,514. Gold futures are down $70 per ounce at $2,625.
In the livestock markets today, December hogs are up 85¢, December cattle are down 10¢, and January feeder cattle are down 62¢.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon