Soybeans down 19¢. Monday, June 17, 2024
July corn is down 4¾¢ this morning.
July soybeans are down 19½¢.
CBOT wheat is down 19¢. KC wheat is down 19½¢. Minneapolis wheat is down 13¢.
Today at 3 p.m. CT, the weekly USDA Crop Progress report is expected to be released.
“Crop conditions for U.S. corn, soybeans and spring wheat will move 2% to 3% lower this week,” says Al Kluis, managing director of Kluis Commodity Advisors. “It is staying wet in the northern and western Corn Belt, and dry now in the central and eastern Corn Belt. The key to watch will be corn ratings in Iowa and Illinois.
“I am watching the price action this week in the grain markets. This is a key change-of-trend week. One year ago this week, prices put in an important high.”
August live cattle are up 10¢. August feeder cattle are up 70¢. July lean hogs are up $1.45.
July crude oil is up 70¢.
The U.S. Dollar Index September contract is up to 105.18.
September S&P 500 futures are down one point. September Dow futures are down 77 points.
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