Soybeans up 13¢ to start the day. Wednesday, November 30, 2022
This morning corn is up a penny while soybeans are up 13¢.
CBOT and KC wheat are up 4¢. Minneapolis wheat is down a penny.
Live cattle are down 18¢. Lean hogs are down 30¢. Feeder cattle are down 18¢.
Nick Tsiolis, founder of Farmer’s Keeper, says all eyes will be on U.S. Federal Reserve Chair Jerome Powell this afternoon as he is expected to discuss the Federal Reserve’s thinking regarding future interest rate hikes.
“We are not seeing anything to indicate that the Fed will pivot from its mission to stamp out inflation, although rate increases are expected to be smaller than the 0.75 we’ve been seeing,” Tsiolis says.
Outside of the U.S., milling wheat on the European MATIF trade is up. Corn and No.1 soybeans are both down on the Chinese Dalian trade.
The S&P 500 is currently flat. The Dow is down 4 points.
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