Corn starts day down a penny. Friday, October 20, 2023

December corn is currently down 1¾¢.

November soybeans are down 10½¢.

CBOT wheat is up 2¾¢. KC wheat is up 3½¢. Minneapolis wheat is up 1¼¢.

“Cоrn closed above $5 on the December contract for the first time in just under two months yesterday,” ays Jeremy McCann, account manager at Farmer’s Keeper. “Export data released yesterday suggests we have already surpassed the USDA’s export expectations for the month of October through only two weeks. This was big news but technical buying is what really drove the sharp gains.

“Looking ahead there are virtually no resistance levels in sight and a ‘gap’ established over the last weekend of July (28-31). As many say, ‘gaps get filled,’ and that could be the case in the near future. That being said, gaining over 25¢ on the December contract over the next month and half would be a tall order and likely would require more than just technical buying.”

Live cattle are up 55¢. Lean hogs are down $1.45. Feeder cattle are up 88¢.

Crude oil is up 71¢.

S&P 500 futures are down 11 points. Dow futures are down 52 points.

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

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