Soybeans up 16¢ this morning. Monday, August 14, 2023
December corn is currently down 5¢.
November soybeans are up 16¢.
CBOT wheat is down 17¢. KC wheat is down 15¢. Minneapolis wheat is down 5¢.
“Soybean futures have rallied in early trade on support from Friday’s lower USDA forecast for 2023-24 ending stocks and worries hotter weather forecast for next week could hurt yields,” said The Brock Report this morning prior to the 8:30 a.m. CDT open.
“Corn futures have drifted lower under pressure from technically-driven selling, Midwest rains and wheat market weakness, with losses limited by soybean price strength. Wheat futures have extended losses with traders brushing off news that a Russian warship had fired warning shots at a cargo ship in the Black Sea.”
This morning USDA announced the sale of 416,000 metric tons of soybeans to unknown destinations, to be delivered during the 2023/2024 marketing year.
October livestock are are mixed this morning. Live cattle are up 18¢. Lean hogs are down $1.83. Feeder cattle are down 10¢.
Crude oil is down 75¢.
S&P 500 futures are down 3 points. Dow futures are down 75 points.
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