Markets Under Pressure Amid Weak Soybean and Crude Oil Trends

DTN's Quick Takes reported that markets are under heavy pressure due to weakness in soybeans and bean oil as crude oil corrects. The price of December corn fell by 5.75 cents per bushel, while November soybeans dropped 15 cents. Meanwhile, the Dow Jones Industrial Average rose 544.49 points.

The livestock complex is off to a mixed start, with cattle contracts running higher and lean hog contracts less optimistic. October live cattle are up $0.28 at $218.1, but October lean hogs are down $0.15 at $83. The lack of cash cattle trade this week means that packers need to be aggressive ahead of the day's end.

Private exporters reported sales of 264,000 metric tons (10.4 mb) of corn for delivery to Mexico during the 2026/2027 marketing year, according to the USDA. December gold is up $18.90 per ounce, while October crude oil fell by $3.62 per barrel.