Corn and soy close at new highs | Tuesday, January 17, 2022
March corn and soybeans both closed at new highs for 2023.
Corn closed up 11¢ to $6.86.
Soybeans closed up 12¢ to $15.40.
CBOT wheat closed up 5¢. KC wheat is up 10¢. Minneapolis wheat closed just above flat.
Live cattle are down 73¢. Lean hogs are up 93¢. Feeder cattle are down $1.60.
Crude oil is currently up 61¢.
The U.S. Dollar Index is at 102.1.
The S&P 500 is down 2 points. The Dow is down 313 points.
Prices rebound at midday: 11:31 a.m.
At midday, corn is up 5¢ and soybeans are up 2¢.
CBOT wheat is up 4¢. KC wheat is up 5¢. Minneapolis wheat is down 2¢.
Live cattle are down $1.20. Lean hogs are up $1.35. Feeder cattle are down $1.53.
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Crude oil is up 35¢ to $80.21 a barrel.
The S&P 500 is down 8 points. The Dow is down 387 points.
Prices start day in the red: 9:10 a.m.
This morning, corn is down 2¢ and soybeans are down 12¢.
CBOT wheat is down 7¢. KC wheat is down 8¢. Minneapolis wheat is down 9¢.
Live cattle are down 55¢. Feeder cattle are down 75¢. Lean hogs are up $1.58.
Al Kluis with Kluis Commodity Advisors says prices are under pressure this morning due to rain in Argentina over the three-day weekend and increased concern over a global economic slowdown.
Kluis also says the weather pattern in Argentina may be changing, which would help crop yield.
Crude oil is up $1.11 this morning.
The U.S. Dollar Index is down to 101.7.
The S&P 500 is up 2 points. The Dow is down 187 points.
Outside of the U.S., milling wheat is down on the European MATIF trade. On the Chinese Dalian trade, March corn is down. March soybeans are up.
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