As the clock struck 9:00 a.m. CT, March corn futures experienced a decline of 1¾¢, settling at $4.33¼ per bushel.
In contrast, March soybeans rose by 11¢, now priced at $11.23¼ per bushel.
Meanwhile, March CBOT wheat saw a decrease of 2¾¢, reaching $5.32½ per bushel. Kansas City wheat also fell by 2¾¢ to $5.35¾ per bushel, while Minneapolis wheat dropped 3¼¢ to $5.79¼ per bushel.
Karl Setzer from Consus Ag Consulting noted, "Futures have fluctuated around unchanged levels overnight as traders consolidate positions ahead of the weekend. There is anticipation building for the upcoming WASDE report scheduled for next Tuesday. While no significant changes are expected in domestic or global balance sheets, a minor reduction in ending stocks is anticipated, without impacting the stocks-to-use ratio. Additionally, outside markets have stabilized following the recent downturn in cryptocurrencies, which saw Bitcoin dip to a 15-month low. This situation attracted managed funds to the market on Thursday, but inflows are likely to slow today."
Looking at livestock, April live cattle prices increased by $3.55, reaching $239.15 per hundredweight (cwt). March feeder cattle also rose by $5.47 to $369.55 per cwt, while April lean hogs jumped 57¢ to $98.95 per cwt.
At 9:17 a.m. CT, March crude oil was priced at $63.70 per barrel, down $2.21.
The S&P 500 Index gained 62.29 points, while the Dow Jones Industrial Average surged by 713.68 points.
The March U.S. Dollar Index declined by 221 points.
Published: 9:27 a.m. CT
