Soybean up 13¢ at open. Tuesday, April 11, 2023
Corn is down 1⁄2 of a penny while soybeans are up 13¢ at the opening of the market today.
CBOT what is down 3¢. KC wheat is down a penny. Minneapolis wheat is up 1⁄2 of a penny.
The USDA World Agricultural Supply and Demand Estimates (WASDE) report is expected to be released at 11 a.m. CDT this morning. Analysts say they expect soybean ending stocks to be reported lower than last month.
“On March 31, the USDA Grain Stocks report showed 57 million bushels less soybeans than expected,” says Al Kluis, managing director of Kluis Commodity Advisors. “If they screwed up and over-stated last year’s soybean crop, then expect a big change in the residual number.”
Live cattle are currently up 8¢. Lean hogs are up 3¢. Feeder cattle are up 13¢.
Crude oil is up 47¢.
S&P 500 futures are up 2 points. Dow futures are up 70 points.
Milling wheat is flat on the MATIF trade. May corn and No. 1 soybeans are up on the Dalian trade. May No. 2 soybeans are down.
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