As of 9 a.m. CT, the price of March corn has decreased by 1¾¢, settling at $4.28½ per bushel.
Meanwhile, March soybeans experienced a slight decline, down less than a penny at $11.14½ per bushel.
In the wheat market, March CBOT wheat is down 1¼¢, priced at $5.28½ per bushel. March Kansas City wheat has dropped 3¼¢ to $5.28 per bushel, while March Minneapolis wheat is down slightly at $5.69¾.
Al Kluis, managing director of Kluis Commodity Advisors, commented, "I am observing the weather conditions in northern Mato Grosso, where excessive rainfall is impacting the quality and yield of soybeans. Many regions in the northern half of Mato Grosso received over 22 inches of rain in January. The combination of wet conditions in Mato Grosso and dry weather in Argentina indicates that future crop forecasts may be adjusted downward."
This morning, the USDA reported that China has committed to purchasing 264,000 metric tons of soybeans for the 2025/2026 marketing year.
Regarding livestock, as of 9 a.m. CT, March feeder cattle prices increased by $1.65 to $369.08 per hundredweight (cwt), while April live cattle also rose by $1.65 to $238.90 per cwt. In contrast, April lean hogs saw a decrease of $1.18, now priced at $96.78 per cwt.
In the energy sector, March crude oil has risen by 43¢, currently at $63.98 per barrel.
The U.S. Dollar Index for March is down to 96.72.
As of 8:56 a.m. CT, the S&P 500 Index has decreased by 2.87 points, and the Dow Jones Industrial Average is down by 179.80 points.
Published: 9:30 a.m. CT
