Chicago wheat closes near year’s low. Friday, December 9, 2022

At the close corn is still up a penny while soybeans are down 4¢.

CBOT wheat closed down 13¢ to $7.33, only slightly higher than the year’s low reached earlier this week at $7.29.

KC wheat is down 14¢ to $8.30. Minneapolis wheat is down 8¢ to $9.01.

Live cattle are up $1.63. Lean hogs are down 68¢. Feeder cattle are up 40¢.

Crude oil is currently down 10¢.

The S&P 500 is down 6 points. The Dow is down 91 points.

At midday corn is up a penny and soybeans are down 7¢.

CBOT wheat is down 14¢. KC wheat is down 15¢. Minneapolis wheat is down 11¢.

This morning’s USDA report was a “non event” as far as the market is concerned, according to Al Kluis with Kluis Commodity Advisors. Naomi Blohm with Total Farm Marketing says it contained “no big surprises.”

Live cattle are currently up $1.75. Lean hogs are down 48¢. Feeder cattle are up 35¢.

The S&P 500 is down 4 points. The Dow is down 63 points.

Corn is up 2¢ while soybeans are down 2¢.

CBOT wheat is down 2¢. KC wheat is down 3¢. Minneapolis wheat is down less than a penny.

Live cattle are up 48¢. Lean hogs are down 43¢. Feeder cattle are down 5¢.

Big news today will be USDA’s World Agricultural Supply and Demand Estimates (WASDE) report. It will be released at 11 a.m. CT. Al Kluis with Kluis Commodity Advisors says traders are expecting updates to the world’s balance sheet, but USDA rarely makes adjustments to yield or production numbers in December.

Nick Tsiolis with Farmer’s Keeper says barring any big surprises in the WASDE report today, soybeans may edge close to $15.

Crude oil is up $1.05 this morning.

The U.S. Dollar Index is at 104.5.

The S&P 500 is down 2 points. The Dow is down 44 points.

Tags: soybeans, wheat, live cattle, feeder cattle, lean hogs, corn