Chicago wheat starts day up 3¢. Thursday, December 15, 2022

This morning corn is down about a penny while soybeans are down 7¢.

CBOT wheat is up 3¢. KC wheat is up 4¢. Minneapolis wheat is up 4¢.

Reuters reports an Argentina grain exchange has cut its wheat production forecast by 3% in response to drought and late season frosts in early spring.

Bob Linneman with Kluis Commodity Advisors says South America needs rain this week or there is likely to be further cuts to production by analysts next week.

According to Commodity Weather Group, half of Argentine corn and soybean acres are under stress and this will grow to 3/4 next week.

Live cattle are down 83¢. Lean hogs are down 80¢. Feeder cattle are down 68¢.

USDA exports report this morning found corn and soybeans both performed better than expected, says Naomi Blohm with Total Farm Marketing.

Corn net sales came in at 958,900 metric tons for 2022/2023. Soybean net sales were at 2,943,400 metric tons for 2022/2023, including 1,058,900 metric tons sold to China.

Crude oil is currently down 49¢.

The U.S. Dollar Index is sitting at 103.4.

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