Soybeans up 18¢. Monday, December 11, 2023

March corn is currently up slightly.

January soybeans are up 18¢.

CBOT wheat is down 8¼¢. KC wheat is down 18¼¢. Minneapolis wheat is down 5½¢.

“Soybean futures rallied overnight on apparent support from some renewed concerns about Brazilian crop weather following somewhat disappointing weekend rainfall,” says The Brock Report. “Prospects for Argentina’s new president to announce major devaluation of the peso may also be spurring short covering. Corn futures edged lower in early trade under pressure from large U.S. supplies and wheat market weakness. Wheat futures were pressured by technically-driven long liquidation, forecasts for needed rains in U.S. hard red winter wheat areas and continued export competition from large Black Sea region wheat supplies.”

This morning USDA announced the sale of 132,000 metric tons of soybeans to unknown destinations for the 2023/2024 marketing year.

Live cattle are down 20¢. Lean hogs are up $1.18. Feeder cattle are down 88¢.

Crude oil is up 13¢.

S&P 500 futures are up 2 points. Dow futures are up 36 points.

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