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HOURS FOR WEEK OF OCTOBER 2, 2023 ALL LOCATIONS OPEN 7 A.M. TO 7 P.M.
Futures
@C - CORN - CBOT
Month
Last
Change
Open
High
Low
Close
Time
More
Dec 23
483'0
-4'4
487'4
489'6
482'4
487'4
08:44A
Mar 24
498'0
-4'2
502'0
504'4
497'4
502'2
08:44A
Dec 24
512'0
-2'4
514'4
516'0
511'2
514'4
08:44A
@S - SOYBEANS - CBOT
Month
Last
Change
Open
High
Low
Close
Time
More
Nov 23
1272'2
-0'4
1272'0
1285'0
1270'0
1272'6
08:44A
Jan 24
1291'4
-0'4
1291'2
1303'2
1289'0
1292'0
08:44A
Nov 24
1259'0
-4'4
1262'0
1266'0
1256'0
1263'4
08:44A
@W - WHEAT - CBOT
Month
Last
Change
Open
High
Low
Close
Time
More
Dec 23
553'4
-15'0
567'4
569'6
552'6
568'4
08:44A
Mar 24
583'4
-14'2
596'6
598'0
582'6
597'6
08:44A
Jul 24
620'2
-12'4
630'4
632'0
620'0
632'6
08:44A
@YM - E-MINI DOW JONES $5 - CBOT
Month
Last
Change
Open
High
Low
Close
Time
More
Dec 23
33215.00
14.00
33177.00
33297.00
33021.00
33201.00
08:44A
My Custom Markets
Symbol
Last
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Open
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Low
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Closing Market Comments
10-23-23
Corn and soybean futures finished lower on the day while Chicago wheat saw minor gains. The dollar index continued the upward trajectory, and crude oil prices saw minor gains after suffering losses in the previous three trading sessions.
November soybeans traded as low as 20 cents lower on the day to 12.56 3/4 this morning - the lowest level since June - before clawing their way back near unchanged. November beans settled 12.72 3/4 down just 4 1/4 on the day. Demand remains a concern for soybeans. Beans crushed for August in yesterday's USDA Fats and Oils report were less than expected. This, in addition to the well documented poor exports, points to slack in the market which can be absorbed if yields come in slightly lower than expected. On the positive side for soybeans, the seasonal trend says we put in lows at this time of year before trending higher. Some of the decline in crush demand can be attributed to plant maintenance ahead of harvest. Finally, the balance sheet remains very tight with very little wiggle room so overall the soybean market has potential upside from here.
Corn remains range-bound. December futures finished two cents lower on the day in quiet trade, and remain range bound. Harvest is moving along well and in-line with historical norms. Most of the corn crop in the US is mature. Ethanol production figures will be released tomorrow. Corn demand from ethanol plants remains strong and a bright spot in the corn market on the demand side.
US dollar strength continues with the dollar index moving into a new high for the recent move and is now trading above 107. The dollar index has moved steadily higher since mid-July and has gained 7.2% since then. Crude oil futures found their footing and traded higher after three losing sessions.
Bond yields continue to be the story in the macro markets. The 10-Year Treasury was up sharply again today after JOLTS jobs data showed 9.61 mil job openings - higher than expected and an indication the job market remains strong and openings are difficult to fill. The strong employment data supports the Federal Reserve 'higher for longer' interest rate policy which the market feels may drag on economic growth. Equity markets are down sharply on the strong uptrend in yields with the three major indexes down 2%. The next employment data point is this Friday with the Bureau of Labor statistics unemployment data is released.
News from the Coop
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