By admin 
Grain markets opened mixed on Friday after a strong close Thursday.
The USDA’s weekly U.S. Export Sales report was released this morning, delayed one day because of the mid-week holiday. The report was friendly for wheat and corn, while soybean sales were slightly disappointing.
The net sales numbers from the report were:
- 612,400 metric tons for wheat
- 1,711,300 metric tons for corn
- 978,400 metric tons for soybeans.
As traders wrap up the week, they will be keeping an eye on key moving-average lines on the daily charts.
Livestock futures opened quietly mixed on Friday morning. Cash trade has been very light this week, which many traders expected with the holiday mid-week. Cash cattle are expected to trade at sometime today. Packers are starting out with bids at $190 per hundredweight (cwt), while feed lots are hoping to sell closer to $200 per cwt.
Outside markets are mixed this morning. The U.S. Dollar Index is steady. Crude oil is up 50¢ per barrel. S&P 500 futures are down 70 points. As we head into the end of the month and wrap up trading for 2024, will we see a new trend develop for the beginning of 2025?
Published 10:10 a.m. CT
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Editor’s Note: The risk of loss in trading futures and/or options is substantial, and each investor and/or trader must consider whether this is a suitable investment. Past performance – whether actual or indicated by simulated historical tests of strategies – is not indicative of future results. Trading advice reflects good-faith judgment at a specific time and is subject to change without notice. There is no guarantee the advice given will result in profitable trades.
About the Author: Bob Linneman is a commodities broker with Kluis Commodity Advisors. Linneman grew up on a diverse farm in eastern South Dakota. Between milking cows, managing a beef herd, and farming various crops, he experienced many aspects of agriculture firsthand. After graduating from North Dakota State University with a degree in business, he moved to Hawaii with his wife. There he was an associate portfolio manager for a fixed income firm that managed $2 billion in assets. After nearly two years in Hawaii, he moved back to the Midwest and began his career in commodities. Linneman is licensed as a Series 3 and Series 30 commodity broker.