Commodity Prices Swing Wildly on September 23: Corn Down, Live Cattle Up
The Chicago Board of Trade saw significant fluctuations in commodity prices on Wednesday, September 23. Corn futures for December and March were down by 8 cents at $5.28 and $5.43 per bushel respectively.
Soybean futures also declined, with November and January contracts down by 8 cents at $13.17 and $13.33 per bushel. Wheat futures saw a larger drop, with December and March contracts down by 10 cents at $7.07 and $7.22 per bushel.
However, live cattle futures showed an increase, with October and December contracts up by $205 and $272 at $220.82 and $222.17 per hundredweight. Feeder cattle futures also rose, with October and November contracts up by $495 and $600 at $332.97 and $329.20 per hundredweight.
The Ontario Pork Reports provided further insight into the market, stating that the U-S CME price was down $0.81 from the previous day at $82.47 per hundredweight, dressed weight. The 100% formula price also declined by $1.43 to $209.85 per hundred kilograms, dressed weight.