Corn closes flat; soybeans in the red | Thursday, January 5, 2023

Corn ended the day unchanged from the overnight trade at $6.54. 

Soybeans closed down 9¢ to $14.74. 

CBOT wheat is up a penny. KC wheat is down a penny. Minneapolis wheat is up 5¢. 

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Live cattle are also unchanged. Lean hogs are down $1.40. Feeder cattle are down $1.73. 

Nick Repke with Kluis Commodity Advisors says fund selling was impacting the markets again today. 

Crude oil is down to $73.80 a barrel. 

The S&P 500 is down 35 points. The Dow is down 305 points. 

Soybeans still down 7¢ at midday: 10:53 a.m. 

Corn is currently down less than a penny while soybeans are still down 7¢. 

CBOT wheat is down less than a penny. KC wheat is down 2¢. Minneapolis wheat is up 3¢. 

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Live cattle are down 20¢. Lean hogs are down $1.73. Feeder cattle are down $1.25. 

Naomi Blohm with Total Farm Marketing says news out of the U.S. Department of Labor and the payroll processing firm ADP of shrinking unemployment and new jobs has prices down "sharply on worries that a hot jobs market will mean the [Federal Reserve] will continue with aggressive rate hikes well into the new year." 

Crude oil is now up to over $74 a barrel. 

The U.S. Dollar Index is currently at 104.9. 

The S&P 500 is down 46 points. The Dow is down 416 points. 

Corn and soy in the red again this morning: 8:52 a.m. 

This morning, corn is down 2¢ while soybeans are down 7¢. 

CBOT wheat is up 4¢. KC wheat is up 2¢. Minneapolis wheat is up 3¢. 

Al Kluis with Kluis Commodity Advisors says March and May corn will find support between $6.44 and $6.40 ahead of the USDA World Agricultural Supply and Demand Estimates (WASDE) report next week. 

Kluis also says he is paying attention to crude oil right now, which has fallen nearly $7 since Jan. 2. Currently crude oil is at $73.03. Kluis says the last time crude oil fell below $72, the U.S. government purchased fuel for the Strategic Oil Reserve and he expects more buying this week. 

Live cattle are down 33¢. Lean hogs are down 70¢. Feeder cattle are down $1.03. 

The S&P 500 is down 39 points. The Dow is down 381 points.