December Corn Closes Higher | Wednesday, October 23, 2024

December corn ended the day up 2½¢.

November soybeans closed up 5¾¢.

December wheat closed mixed. CBOT wheat was up 2½¢. KC wheat and Minneapolis wheat were down a penny.

"Futures trade was choppy for much of today’s session as fundamental news remained sparse," said Karl Setzer, partner at Consus Ag Consulting. "This put more emphasis on the technicals, and contracts are now finding themselves in rather tight ranges.

"Improving weather conditions for South America weighed on trade again today, although trade is showing more doubt over the total benefit from these events. Current models for Brazil show heavier rain for central and western regions, but northern and southern states will remain dry for another two weeks. Northern Argentina is also expected to remain dry into late October, increasing the volume of risk premium traders are adding to futures....

"Harvest pressure is lifting from the soy complex, but we are still seeing it on corn. Rains may slow harvest in some parts of the western Corn Belt this week, but most of the U.S. will see active fieldwork."

December live cattle closed down 25¢. January feeder cattle were down $2.23. December lean hogs were up $1.05.

December crude oil is currently down 81¢.

December S&P 500 futures and Dow futures are currently down 57 points and 422 points, respectively.

Published: 2:58 p.m. CT

December Corn Starts Day in the Red: 8:51 a.m. CT

December corn is down 1½¢ this morning.

November soybeans are down 2¢.

December wheat contracts are also lower. CBOT wheat is down 5¼¢. KC wheat is down 5½¢. Minneapolis wheat is down 4¼¢.

For the third day this week, USDA announced new export sales this morning:

• China is buying 130,000 metric tons of soybeans for the 2024/2025 marketing year. 
• Unknown destinations are buying 100,000 metric tons of corn and 259,000 metric tons of soybeans for the 2024/2025 marketing year. 

December live cattle are down 33¢ this morning. January feeder cattle are down 60¢. December lean hogs are up 3¢.

December crude oil is down 62¢.

The U.S. Dollar Index December contract is up to 104.28.

December S&P 500 futures are down 22 points. December Dow futures are down 300 points.

Published: 8:51 a.m. CT