August beef exports were down 18% from year-ago, with pork exports down 1% from year-ago. Year-to-date exports sluggish compared to previous year.
Corn ended mostly around 2 cents lower, with wheat 7 to 9 cents lower. Soybeans ended mostly 3 cents higher. Cattle ended sharply higher and lean hogs ended weaker in all but the front-month contract.
Corn ended the overnight session marginally to 1 cent firmer, with soybeans up 5 to 7 cents and wheat up 2 to 4 cents. Livestock futures are called firmer, with cattle building on yesterday’s sharp to limit up performance.
The global stock markets showed signs of strength this week. Crude oil violated a formation that now suggests rising buyer interest. Grain traders prepare for Friday's USDA report.
Corn closed 4 to 5 cents higher, with soybeans up 3 to 4 cents. Winter wheat ended 10 to 13 cents higher, with spring wheat up 8 to 9 cents. Cattle closed sharply to limit higher, with feeders slightly to sharply higher.
Grain futures are seeing a boost from several factors this morning, including a softer tone in the U.S. dollar index.
Current Corn Belt conditions are mild and dry, which is favorable for harvest progress.
Dr. Michael Cordonnier says 2% to 3% of the nation's soybean crop has been planted, which is about average for this stage in the season.
Corn ended the overnight session 1 to 2 cents higher, with wheat 4 to 6 cents higher. Soybeans ended narrowly mixed. Cattle futures are due for a short-covering bounce and lean hogs are being supported by strength in the product market.
While many farm commodity groups signaled satisfaction with the Trans-Pacific Partnership (TPP) conclusion, a number of key lawmakers and others noted either opposition or concerns about some of the details.
USDA said 27% of the corn crop and 42% of soybeans were harvested. Corn and wheat are in uptrends since Sept. 4, while soybeans stall.
As of Wednesday, October 7
Feels Like 76°