Corn and soy in the green. Wednesday, May 24, 2023
Corn is currently up 3¢.
Soybeans got beat up yesterday but are up 5¢ this morning.
CBOT wheat is down 8¢. KC wheat is down 14¢. Minneapolis wheat is down 8¢.
Ami Heesch, commodities broker with CHS Hedging, says China is currently harvesting wheat and a bumper crop is expected. She says the strong wheat harvest is reducing China’s need for U.S. and Brazil corn.
Live cattle are down 63¢. Lean hogs are down 13¢. Feeder cattle are down $1.18.
Crude oil is up $1.44.
S&P 500 futures are down 33 points. Dow futures are down 226 points.
Outside of the U.S., milling wheat is down on the European MATIF trade. Corn is up on the Chinese Dalian trade along with No. 2 soybeans. No. 1 soybeans are down.
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