Grains Gain Ground as Export Sales Boost Prices
Commodity markets kicked off the week on a positive note for grains, with corn, soybeans, and wheat all seeing gains ahead of 9 a.m. CT. December corn climbed 3¢ to $5.00¾ per bushel, while November soybeans surged 15¢ to $12.93¼ per bushel. Wheat prices also rose, with December CBOT wheat up 12½¢ at $6.95½ per bushel, December Kansas City wheat up 12½¢ at $7.47¾ per bushel, and December Minneapolis wheat up 11½¢ at $7.09½ per bushel.
The U.S. Department of Agriculture (USDA) announced new export sales, revealing that Mexico will purchase 129,540 metric tons of corn for the 2026/2027 marketing year. Additionally, unknown destinations have bought 104,000 metric tons of soybeans for the same period.
Meanwhile, livestock markets showed mixed results. November feeder cattle dropped $2.70 to $328.45 per hundredweight (cwt), and December live cattle fell $2.08 to $219.40 per cwt. In contrast, December lean hogs gained 58¢ to $70.70 per cwt.
Energy and currency markets also saw fluctuations. November crude oil dipped $1.30 to $89.81 per barrel, while the U.S. Dollar Index December contract rose to 102.10. Stock indices showed divergent movements, with the S&P 500 Index up 13.65 points and the Dow Jones Industrial Average down 271.13 points.