Market Update: Grain and Livestock Futures

As of 9:30 a.m. CT, the agricultural futures market displayed mixed signals. December corn saw a slight decline, decreasing by one cent to trade at $4.18 per bushel.

Current Grain Prices

• November Soybeans: Up less than a penny at $10.18½ per bushel.
• December CBOT Wheat: Increased by 1¼¢ to $5.16½ per bushel.
• December KC Wheat: Rose by less than a penny to $4.97½ per bushel.
• December Minneapolis Wheat: Gained 2¢, now at $5.61¾.

According to The Brock Report, “Grain and soybean futures mostly managed small gains in cautious early trading. However, corn futures have slipped into negative territory amid harvest pressures since reopening.” Notably, a strengthening dollar has affected market dynamics, yet soybean futures experienced modest gains, primarily due to renewed short covering, and wheat futures also edged higher for similar reasons.

Government Report Update

Bob Linneman from Kluis Commodity Advisors noted, “The USDA is not expected to release the weekly Crop Progress report today due to the ongoing government shutdown.” Traders are optimistic about the progress of the corn and soybean harvests, anticipating that they will soon reach the 30% completion mark.

Livestock Futures Overview

Turning to livestock futures, December live cattle prices fell by 40¢ to $234.10 per hundredweight (cwt). Conversely, November feeder cattle saw an increase of $1.80, reaching $357.23 per cwt, while December lean hogs dropped 85¢, trading at $86.45 per cwt.

Energy and Stock Market Performance

In the energy sector, November crude oil gained 75¢, reaching $61.63 per barrel. Meanwhile, the U.S. Dollar Index December contract rose to 97.90.

Stock Market Highlights

• S&P 500 Index: Up by 12.53 points.
• Dow Jones Industrial Average: Down by 243.21 points.

Published: 9:46 a.m. CT

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