Soybeans continue to rise at midday. Wednesday, November 2, 2022

January soybean futures are up 29¢ at midday to $14.48.

Corn is down 12¢.

CBOT wheat is down 60¢. KC wheat is down 48¢. Minneapolis wheat is down 39¢.

Live cattle are down 68¢. Feeder cattle are up $1.93. Lean hogs are down $1.45.

Crude oil is up $1.50.

The S&P 500 is down 24 points. The Dow is down 77 points.

CBOT wheat is down 57¢ this morning. KC wheat is down 47¢. Minneapolis wheat is down 40¢.

Reuters reports this morning Russia has rejoined the Black Sea trade agreement. The decision comes after Russia’s Defense Ministry said it received written guarantees from Ukraine that the country wouldn’t use the corridor to attack Russian forces.

Corn is down 13¢. Soybeans are up 23¢ to $14.43.

Nick Tsiolis with Farmer’s Keeper says the trade is expecting the U.S. Federal Reserve to raise interest rates today by 0.75 basis points but focus will be on guidance from the Federal Reserve on policy in 2023.

“Higher rates could impact domestic demand and without healthy exports, the market will have to figure out where the grains should be priced,” he says. “It seems that most of the market expects this to be the final 0.75 rate hike, which will feel like a reason to rejoice for the markets.”

Live cattle are down 15¢ this morning. Feeder cattle are up $1.95. Lean hogs are down 90¢.

The U.S. Dollar Index is down to 111.2.

The S&P 500 is down 21 points. The Dow is down 127 points.

Tags: soybean, wheat, futures, сorn, live cattle, feeder cattle, lean hogs