Grains start day mixed. Tuesday, March 28, 2023

Corn is currently up ¹⁄₄ of a penny.

Soybeans are up 10¢.

China is buying more corn. This morning USDA announced the sale of 136,000 metric tons for the 2022/2023 marketing year.

CBOT wheat is down a penny. KC wheat is up 4¢. Minneapolis wheat is down ³⁄₄ of a penny.

Live cattle are down 25¢. Lean hogs are down 35¢. Feeder cattle are up 5¢.

Crude oil is down a penny to $72.80 a barrel. Al Kluis, managing director of Kluis Commodity Advisors, says crude oil’s current rally is bullish for the entire commodity complex.

Nick Tsiolis, founder of Farmer’s Keeper, says we have officially entered into the U.S. weather market.

“Forecasts look cold and wet into April,” he says. “That, and a couple feet of snow in the northern planes has those producers convinced planting will be delayed. That’s not necessarily a ‘crop scare’ but it could give markets something to get excited about for a few weeks.”

S&P 500 futures are currently down 6 points. Dow futures are up 40 points.

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