USDA announces new soybean export sale.
December corn is down less than a penny this morning.
November soybeans are down 12¼¢.
This morning USDA reported China is buying 166,000 metric tons of soybeans for the 2024/2025 marketing year.
Early this morning during the overnight session, Al Kluis, managing director of Kluis Commodity Advisors, said, “It is raining in central Brazil this morning, and soybean prices and the entire grain market are lower. Also, in China the stock market is sharply lower; this always seems to put pressure initially on the U.S. soybean market.”
December wheat contracts are lower this morning. CBOT wheat is down 2¢. KC wheat is down 1¼¢. Minneapolis wheat is down less than a penny.
December live cattle are down 13¢. November feeder cattle are up 5¢. December lean hogs are down 30¢.
November crude oil is down $2.48.
The U.S. Dollar Index December contract is down to 102.24.
December S&P 500 futures are up 21 points. December Dow futures are down 42 points.
Source: https://www.agriculture.com/market-update-or-tuesday-october-8-2024-8724815
