March corn ended the day down 7 cents, while January soybeans were down just 1 cent.
CBOT wheat fell 16¾¢. KC Wheat fell 15¢. Minneapolis wheat fell 14¾¢.
At noon, Stewart Peterson’s Grain Market Insider Newsletter noted that corn was under pressure due to heavy supplies and weekend rain in Brazil.
“Russia continues to offer wheat at prices far lower than those offered by the United States and other countries, causing prices to fall significantly,” the newsletter said. “Paris Milled Wheat Futures for March contract hit new lows, falling in eight of the past 10 trading sessions.”
Live cattle are down $2.03. Lean pork fell $1.88. Feed cattle fell $6.83.
Crude oil fell 60 cents.
The US dollar index for March contract fell to 102.72.
“Very preliminary data for the seasonal Christmas shopping season suggests that U.S. consumers are waiting for lower prices through January,” said Al Kreis, managing director of Kreis Commodity Advisors. “It shows that.” “This reduces the possibility of [Federal Reserve] “Interest rate hikes are expected, which is bearish for the US dollar.”
S&P 500 futures fell 7 points. Dow futures fell 79 points.
Release date: 2:18pm (CST)
Noon Grain Red: 11:23 a.m. (CST)
March corn was down 8¾¢ as of midday.
January soybeans fell 4 and a half cents.
CBOT wheat fell 17¢. KC wheat fell 12¢. Minneapolis wheat fell 10 cents.
Livestock is also in the red. Live cattle are down 53 cents. Lean pork fell 60 cents. Feed cattle fell $2.93.
Crude oil fell 23 cents.
S&P 500 futures fell 3 points. Dow futures fell 50 points.
Published: 11:23am (CST)
Corndown is 6 cents this morning: 9:34am CST.
March corn is now down 6 cents.
Soybean prices are up less than a penny in January.
CBOT wheat fell 5 cents. KC Wheat fell 4¢. Minneapolis wheat fell 4¢.
“We’re looking at the lows in the grain market earlier this week,” Kreis said. “The major chart support areas to watch are: Price could close, but should not close below: December Corn: $4.61, January Soybeans: $13.25, December Meal : $454.20.”
Weather in South America continues to be an area of focus.
“The forecast for midwestern Brazil remains frustrating for farmers in the region,” said Arlan Suderman, chief commodity economist at Stone ” he says. “Weather models are showing good rain continuing every week, and today’s outlook is wetter than what we saw on Friday, but those rains don’t seem to be brought forward in the forecast. Although some rain has fallen, pockets remain fairly dry. There are areas where production is flourishing, and crops that are dying are not far away.
The live cow is up 75 cents this morning. Lean pork is down 45 cents. Feed cattle fell 98¢.
Crude oil rose 18¢.
S&P 500 futures fell 7 points. Dow futures fell 60 points.
Published: 9:34am (CST)