Corn closes down 2¢. Thursday, December 28, 2023

March corn ended the day down 2¼¢.

January soybeans are down 11½¢.

CBOT wheat is up 8½¢. KC wheat is up 8¾¢. Minneapolis wheat is up 3¾¢.

“March corn futures saw both sides of unchanged on relatively light volume in today’s session before settling near the day’s lows, as traders continue to square positions ahead of the year-end,” says the Grain Market Insider newsletter by Stewart-Peterson Inc. “With Brazilian weather forecasts turning more favorable, the corn market may need a boost in export demand or some other supply concern to turn prices back higher.”

Live cattle are down 35¢. Feeder cattle are down $2.00. Lean hogs are down $1.43.

Crude oil is down $2.12.

The U.S. Dollar Index March contract is currently at 100.93.

S&P 500 futures are up a point. Dow futures are up 24 points.

Corn and soy in the red at midday: 12:07 p.m. CST

March corn is currently down 2½¢.

CBOT wheat is up 8¾¢. KC wheat is up 8½¢. Minneapolis wheat is up 3¾¢.

“Soybeans are trading slightly lower today, but have been on either side of unchanged as the light holiday volume causes volatility,” says Grain Market Insider “All three wheat classes are mostly higher near midday, thanks to a technical break to the upside. Funds are heavily short and are likely buying back contracts into the end of the year.”

Live cattle are down $1.15. Feeder cattle are down $1.98. Lean hogs are down $1.70.

Crude oil is down $1.42.

S&P 500 futures are up 4 points. Dow futures are up 48 points.

Corn down slightly: 9:24 a.m. CST

March corn is currently down less than a penny.

January soybeans are up 2¢.

CBOT wheat is up 9½¢. KC wheat is up 8¼¢. Minneapolis wheat is up 5¢.

“Grain and soybean futures managed modest gains in early trade on apparent support from speculative position evening and renewed worries about Ukraine’s grain exports after a grain ship reportedly hit a mine in the Black Sea near Ukraine’s coast,” says The Brock Report. “Continued weakness in the dollar has also been a supportive market factor, while crude oil futures weakness has been a negative factor. Corn and soybean futures trade remained cautious overnight, with traders keeping a close eye on South American weather.”

Crude oil is down 41¢.

The U.S. Dollar Index March contract is down to 100.53.

Live cattle are down 58¢. Feeder cattle are down 93¢. Lean hogs are down 3¢.

S&P 500 futures are down less than a point. Dow futures are up 7 points.

Outside of the U.S., milling wheat is down on the MATIF trade. Corn and No. 2 soybeans are down on the Dalian trade while No. 1 soybeans are up.

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