Grains Surge as Traders Anticipate USDA Reports

Grain futures rebounded strongly on Thursday after falling on Wednesday, as traders positioned for upcoming reports from the USDA. December corn prices rose by $0.06 to $5.33¾ per bushel, while March corn gained $0.06 to $5.49¼.

Soybeans led the charge, with November beans increasing by $0.22¾ to $13.32¼ and January soybeans up $0.22 to $13.47¼. Soybean meal also rose, gaining $5.50 to $356.90 per ton.

Wheat prices also recovered, with December Chicago wheat rising by $0.12½ to $7.41¼ and December Kansas City wheat adding $0.12½ to $8.18¾.

Livestock futures were mixed on Thursday, but cattle markets saw significant gains. October live cattle rallied $1.97 to $217.82, while December cattle gained $1.12 to $219.60. February cattle increased by $0.82 to $221.15.