Grains mostly up ahead of WASDE. Friday, December 8, 2023
March corn is currently up 3¢.
January soybeans are up 14½¢.
CBOT wheat is down 3¼¢. KC wheat is up 6¢. Minneapolis wheat is up 2¢.
This morning USDA announced three new export sales for the 2023/2024 marketing year:
- 136,000 metric tons of soybeans to China
- 110,000 metric tons of soft red winter wheat to China
- 165,000 metric tons of corn to unknown destinations
Later this morning the December World Agricultural Supply and Demand Estimates (WASDE) report is expected from USDA.
“Traders are not expecting much of a change to the U.S. production numbers in the USDA report today,” says Bob Linneman, commodities broker with Kluis Commodity Advisors. “The spotlight will be on South American production, since the weather over the last two months has not been ideal.”
Live cattle are up 48¢. Lean hogs are up 5¢. Feeder cattle are up 53¢.
Crude oil is up $1.27.
S&P 500 futures are up 8 points. Dow futures are up 60 points.
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