At the market close, September corn was down 2¼¢ at $4.09¼ per bushel.
November soybeans were up 2½¢ at $10.27 per bushel.
Jamey Kohake, senior risk manager with Pinion said the USDA Acres and Stocks report was neutral, “A little bit supportive in beans, nothing in corn. Market really didn’t do much after it either.”
“We’re still completely focused on weather,” Kohake added, “The crop’s off to a very good start right now and so far it looks to be a pretty good depressed market.”
The wheat markets were lower at the market close. September CBOT wheat was down 2½¢ at $5.38¼ per bushel. September KC wheat dropped 7¢ at $5.26¾ per bushel. September Minneapolis wheat was 6¾¢ lower at $6.19 per bushel.
August live cattle were up 57¢ at $213.87 per hundredweight (cwt). August feeder cattle were $2.77 higher at $310.67 per cwt. August lean hogs fell $2.77 at $107.50 per cwt.
Just after 3:00 p.m. CT, August crude oil was down 44¢ at $65.08 per barrel.
September S&P 500 futures were up 26 points. September Dow increased 257 points.
The September U.S. Dollar Index was down 581 points.
Published: 3:20 p.m. CT
Markets Mixed Before Report: 9:33 a.m. CT
Just after 9:00 a.m. CT, September corn was down 1¼¢ at $4.10¼ per bushel.
November soybeans were up 7¢ at $10.31¾ per bushel.
Kluis Commodity Advisors managing director Al Kluis said, “The grain markets closed mostly higher Friday. One factor was fund short-covering, plus optimism that the U.S. and China are starting to talk again.”
Kluis added, traders are ready for volatile trading ahead of the USDA Acres and Stocks report set to be released later on Monday, “Over the last five years, this report day has been volatile: on average, a 38¢ trading range for corn and 62¢ per bushel for soybeans.”
The wheat markets were stronger starting off Monday morning. September CBOT wheat was up 2¼¢ at $5.43 per bushel. September KC wheat was up 2¾¢ at $5.36½ per bushel. September Minneapolis wheat jumped 3¾¢ at $6.29½ per bushel.
August live cattle were down $1.92 at $211.37 per hundredweight (cwt). August feeder cattle were $1.20 weaker at $306.70 per cwt. August lean hogs dropped $2.40 at $107.87 per cwt.
August crude oil was down 16¢ at $65.36 per barrel.
September S&P 500 futures were up 15 points. September Dow increased 157 points.
The September U.S. Dollar Index was down 106 points.
