Corn down 2¢. Monday, March 27, 2023

Corn is currently down 2¢ while soybeans are down a penny.

This morning USDA announced the export of 112,800 metric tons of corn for delivery to unknown destinations during the 2022/2023 marketing year.

CBOT wheat is down 2¢. KC wheat is up a penny. Minneapolis wheat is up 6¢.

Al Kluis, managing director of Kluis Commodity Advisors, says he is focusing on U.S. weather. He says current forecasts are positive for prices, especially corn, and the chance of early planting is gone.

Live cattle are up $1.60. Lean hogs are up $2.00. Feeder cattle are up $3.43.

Crude oil is up $1.35.

S&P 500 futures are up 28 points. Dow futures are up 264 points.

Milling wheat is down on the European MATIF trade. Corn and soybeans are down on the Chinese Dalian trade.

Naomi Blohm, senior market advisor with Total Farm Marketing, says with this week being the end of the month and the end of the quarter, there may be a lot of position squaring.

On Friday USDA will release the anticipated prospective planting report as well as the quarterly grain stocks report.

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