Just before 3:30 p.m. CT, December corn was up 7¾¢ at $4.11¾ per bushel.
November soybeans were up 20¢ at $10.56 per bushel.
"Corn and soybeans took support from technical buying as both contracts were in oversold territory as well as undervalued in the global market." Karl Setzer, Partner with Consus Ag Consulting said, "U.S. corn and soybeans are the most affordable in the global market and this has attracted import business. Weekly sales of these two commodities were above expectations while wheat sales slowed from its recent elevated pace."
December CBOT wheat was up 1½¢ at $5.29¾ per bushel. December KC wheat jumped 2¾¢ at $5.26 per bushel. December Minneapolis wheat increased 4¢ at $5.53¼ per bushel.
October live cattle were down 12¢ at $234.72 per hundredweight (cwt). September feeder cattle were 7¢ weaker at $358.02 per cwt. October lean hogs decreased 2¢ at $89.92 per cwt.
September crude oil was up 70¢ at $63.41 per barrel.
As of 3:26 p.m. CT, the S&P 500 Index was down 25.61 points, and the Dow Jones Industrial Average dropped 152.81 points.
The September U.S. Dollar Index was up 465 points.
Strong Start for Grains: 9:30 a.m. CT
Just before 9:30 a.m. CT, December corn was up 4½¢ at $4.08½ per bushel.
November soybeans were up 10½¢ at $10.46½ per bushel.
"Fresh news is light [Thursday] morning as it has been all week." Karl Setzer, partner with Consus Ag Consulting said, "Crop tour results continue to point out good yields, but not the level needed to reach current USDA production estimates. More cases of corn disease are being reported, mainly fungus. Southern rust, tar spot, and simple mold are also being reported across the Corn Belt. Even if these do not impact production, which they likely will, corn quality will be affected."
December CBOT wheat was down ¾¢ at $5.27½ per bushel. December KC wheat was up ¼¢ at $5.23½ per bushel. December Minneapolis wheat was up 6¾¢ at $5.56 per bushel.
October live cattle were down $1.02 at $233.82 per hundredweight (cwt). September feeder cattle were 95¢ weaker at $357.15 per cwt. October lean hogs increased 10¢ at $90.05 per cwt.
September crude oil was up 16¢ at $62.87 per barrel.
As of 9:30 a.m. CT, the S&P 500 Index was down 9.07 points, and the Dow Jones Industrial Average dropped 92.82 points.
The September U.S. Dollar Index was up 290 points.
