Corn and Soy Start Day in Red. Tuesday, Jan. 7, 2025

Published 2025년 1월 8일

Tridge summary

The article reports a decrease in March corn and soybean futures due to expected rain in Argentina and a large Brazilian crop forecast, while corn futures are limited by expectations of the USDA to lower its 2024/2025 U.S. carryout. Meanwhile, March wheat contracts are higher, and there is an increase in February live cattle, March feeder cattle, February lean hogs, February crude oil, and the U.S. Dollar Index March contract is down to 108.03. Additionally, March S&P 500 and Dow futures are up.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

March corn is down 4¢ this morning. Earlier this morning USDA announced Colombia is buying 110,000 metric tons of corn for the 2024/2025 marketing year. March soybeans are down 10¢. March wheat contracts are higher this morning. CBOT wheat is up less than a penny. KC wheat is up 3¾¢. Minneapolis wheat is up 3¼¢. “Corn and soybean futures came under renewed pressure in early trading, with soybean futures weakest, under pressure from forecasts for needed rain in Argentina, large Brazilian crop prospects and technically-driven selling,” said The Brock Report this morning about the overnight trade. “Corn futures losses have been limited by expectations for USDA to lower its 2024/2025 U.S. carryout further on Friday.” On Friday, Jan. 10, USDA is expected to release several reports, including the monthly World Agricultural Supply and Demand Estimates (WASDE) report, in which corn ending stocks may be adjusted. February live cattle are up 13¢ this morning. March feeder cattle are up 63¢. ...

Source: UkrAgroConsult