Soybeans up 10¢ this morning. Friday, May 31, 2024

July corn is up 2¼¢ this morning.

July soybeans are up 10¼¢.

CBOT wheat is up 2½¢. KC wheat is up 5½¢. Minneapolis wheat is up 3¢.

This morning USDA released the weekly Export Sales report.

“Weekly export sales won’t move the needle much for the grains and soybeans today, with sales mostly aligned with expectations,” says The Brock Report. “USDA reported net corn sales of 810,000 metric tons for 2023/2024, within trade guesses of 600,000 to 1.0 million metric tons, while new-crop net sales of 188,000 metric tons compared to trade guesses of zero to 400,000.

“Soybean net export sales of 329,000 metric tons for 2023/2024 were within trade guesses of 200,000 to 400,000, while new-crop sales were virtually non-existent at 6,900 metric tons.

“Wheat net export sales for the 2023/2024 marketing year, which concludes today, were minus 60,900 metric tons, with trade guesses ranging from minus 100,000 to plus 100,000, while new-crop net wheat sales came in at 381,700 metric tons, within trade guesses of 200,000 to 400,000.”

August live cattle are down $1.00. August feeder cattle are down $1.45. July lean hogs are down 5¢.

Crude oil is down 8¢.

S&P 500 futures are down a point. Dow futures are up 6 points.

Tags: futures, live cattle, feeder cattle, lean hogs, corn, soybeans, wheat