Market Update: Corn and Soybean Prices Trend Upward

As of 9:10 a.m. CT, the agricultural markets are showing signs of a positive trend for corn and soybeans. March corn has seen a slight increase, trading at $4.44¾ per bushel, up less than a penny from yesterday. On the other hand, March soybeans have jumped by 3½¢, now priced at $10.65½ per bushel.

Wheat Markets Update

The wheat market reveals mixed performance, with March CBOT wheat down a penny, now at $5.11½ per bushel. However, March Kansas City wheat experienced a slight increase of 1½¢, trading at $5.22¼ per bushel. March Minneapolis wheat remains stable, up less than a penny at $5.71½.

International Trade News

This morning, the USDA announced that China is purchasing 336,000 metric tons of soybeans for the 2025/2026 marketing year, reflecting an ongoing demand for U.S. agricultural products.

In more commentary on international agricultural trade, Arlan Suderman, chief commodities economist with StoneX, addressed the current dynamics between the U.S. and Venezuela. Despite geopolitical tensions, he highlighted that Venezuela has imported less than 1 million metric tons of corn, soybeans, and wheat from the U.S. this year. Interestingly, Venezuela remains a top customer for soybean oil amid challenges, indicating that agricultural imports may not see significant disruption as long as civil unrest is kept at bay.

Livestock and Oil Market Movements

The livestock market shows promising shifts as well. March feeder cattle increased by $2.10, reaching $357.68 per hundredweight (cwt). February live cattle are up by 43¢, priced at $236.30 per cwt, while February lean hogs decreased by 45¢, settling at $85.70 per cwt.

In the energy sector, February crude oil has decreased by 49¢, now trading at $57.83 per barrel.

Market Indices Overview

The U.S. Dollar Index for March is gaining ground, up to 98.17. Additionally, the stock market is reflecting positive sentiment as the S&P 500 Index rose by 26.81 points, while the Dow Jones Industrial Average is up by 148.12 points.

Published: 9:41 a.m. CT

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