Market Update: Agricultural Commodities and Economic Indicators

Date: 9:52 a.m. CT

Current Commodity Prices

As of the latest market update at 9:30 a.m. CT:

• December Corn: Down 3½¢ at $4.12 per bushel.
• November Soybeans: Down 4½¢ at $9.97¼ per bushel.
• December CBOT Wheat: Down 3½¢ at $5.04½ per bushel.
• December KC Wheat: Down 6¾¢ at $4.91 per bushel.
• December Minneapolis Wheat: Down 4¼¢ at $5.58½ per bushel.

Market Dynamics Affected by Government Shutdown

In the aftermath of the government shutdown, Arlan Suderman, chief commodities economist at Stonex, has observed that both agricultural and broader markets are currently “drifting in a bit of a fog.” The suspension of key government reports, particularly by the USDA National Agricultural Statistics Service (NASS), is contributing to this uncertainty. The highly anticipated weekly Crop Progress report is among the publications that will be delayed, with the October World Agricultural Supply and Demand Estimates (WASDE) report—which relies on NASS data—also likely to be impacted.

Grains and Oilseeds Market Reaction

Suderman highlighted that grains and oilseeds are experiencing a downward trend today, largely influenced by the bearish USDA reports released the previous day.

Livestock Market Update

In contrast to the grain market, livestock prices show some upward movement:

• December Live Cattle: Up $1.13 at $235.90 per hundredweight (cwt).
• November Feeder Cattle: Up $3 at $362.35 per cwt.
• December Lean Hogs: Up 8¢ at $88.80 per cwt.

Other Economic Indicators

In additional market information, the following trends were noted:

• November Crude Oil: Down 55¢ at $61.82 per barrel.
• U.S. Dollar Index: Down to 97.33.
• S&P 500 Index: Down 12.57 points.
• Dow Jones Industrial Average: Up 10.60 points.

This comprehensive summary encapsulates the current state of key agricultural markets and economic indicators as we navigate the complexities brought by the ongoing government shutdown.

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