December corn ended the day up 11½¢ at $4.33½ per bushel.
November soybeans closed up 20¾¢ at $10.48 per bushel.
September wheat contracts also closed higher. CBOT wheat was up 15¢ at $5.64 per bushel. KC wheat was up 11¢ at $5.42¼. CBOT spring wheat was up 12¼¢ at $6.35. Minneapolis wheat was up 20½¢ at $6.49.
“Soybean futures closed sharply higher Wednesday, lifted by strong crush data, short covering ahead of the holiday weekend, and trade optimism following President Trump’s announcement of a U.S.-Vietnam deal,” said the Grain Market Insider newsletter by Stewart-Peterson Inc.
The newsletter also noted that corn benefited from short covering and technical buying today.
August livestock closed higher today. Live cattle ended the day up $1.70 at $212.45 per hundredweight (cwt). Feeder cattle closed up $3 at $309.03 per cwt. Lean hogs were up 95¢ at $107.90 per cwt.
Published: 3:58 p.m. CT
Grains in the Green: 9:36 a.m. CT
Ahead of 9 a.m. CT, December corn was up 1¾¢ at $4.23¾ per bushel.
November soybeans were up 5¢ at $10.32¼ per bushel.
September wheat contracts were also higher. CBOT wheat was up 4½¢ at $5.53½ per bushel. KC wheat was up 6¢ at $5.37¼. CBOT spring wheat was up 2¢ at $6.24¾. Minneapolis wheat was up 6¢ at $6.34½.
“We’re seeing some quality issues due to excessive rain in the winter wheat crop, but the yields are high, and there is enough good wheat to offset the bad,” said Arlan Suderman, chief commodities economist at StoneX. “Corn acres are high, and crop conditions still argue for above-trend yields, suggesting rising stocks. Soybean conditions are good as well, but acres are quite low, leaving us vulnerable if a weather problem develops by August. Exports are questionable, but biofuel demand appears good.”
August livestock were mixed ahead of 9 a.m. CT. Live cattle were down $1.10 at $209.65 per hundredweight (cwt). Feeder cattle were down $1.48 at $304.55 per cwt. Lean hogs were up 5¢ at $107 per cwt.
August crude oil was up 28¢ at $65.73 per barrel.
The U.S. Dollar Index September contract was up to 96.76.
September S&P 500 futures were down 4 points. September Dow futures were down 104 points.
Published: 9:36 a.m. CT
