Midday Movers

Here's what's moving the markets so far today.

Prices as of 10:00 AM CT (about 10 min delayed) · change vs. yesterday's close

• Corn (Dec): $4.74/bu, down 4¢ (-0.84%)
  • Why: U.S. Soybean Prices Hit Seven-Week Low Despite China's Renewed Grain Purchases. Soybeans (-0.53%) and wheat (-1.64%) were lower too, so the selling was across the grain market. It's trading near the low of the day.
  • Today's range: 4.73¼–4.81 · Week: down 5¾¢ (-1.20%)
• Soybeans (Nov): $12.56¼/bu, down 6¾¢ (-0.53%)
  • Why: U.S. Soybean Prices Hit Seven-Week Low Despite China's Renewed Grain Purchases. Corn (-0.84%) and wheat (-1.64%) were lower too, so the selling was across the grain market.
  • Today's range: 12.53¼–12.65¾ · Week: down 35¾¢ (-2.77%)
• Wheat (Dec): $6.59/bu, down 11¢ (-1.64%)
  • Why: Wheat Market Update: Black Sea Disruptions vs. Weak Demand. Corn (-0.84%) was lower too, so the selling was across the grain market. It's trading near the low of the day.
  • Today's range: 6.57¼–6.70¼ · Week: down 12¢ (-1.79%)
• Live Cattle (Dec): $227.825/cwt, up $0.575 (+0.25%)
  • Why: U.S. Cattle Prices Surge as Strong Packer Margins Fuel Futures Market Recovery. Hogs (+0.38%) were higher too, so the buying was across the livestock market.
  • Today's range: 227.075–228.075 · Week: up $0.775 (+0.34%)
• Feeder Cattle (Nov): $342.475/cwt, up $0.525 (+0.15%)
  • Why: U.S. Cattle Prices Surge as Strong Packer Margins Fuel Futures Market Recovery. Live cattle (+0.25%) were higher too, so the buying was across the livestock market. Corn was down 0.84%, which lowers feed costs for feeder buyers.
  • Today's range: 341.375–343.525 · Week: up $0.525 (+0.15%)
• Lean Hogs (Dec): $66.825/cwt, up $0.25 (+0.38%)
  • Why: No single news story drove hogs higher today. Live cattle (+0.25%) were higher too, so the buying was across the livestock market.
  • Today's range: 66.30–67.275 · Week: down $1.00 (-1.47%)
• Crude Oil (Nov): $97.74/bbl, down $0.23 (-0.23%)
  • Why: WTI Futures (USOIL-F) Is down 2.00% on Oct 16: Here Is Why. Diesel (-0.56%) was lower too, so the selling was across the energy market.
  • Today's range: 96.85–98.50 · Week: up $5.89 (+6.41%)
• Heating Oil (Nov): $4.8183/gal, down 2.73¢ (-0.56%)
  • Why: US crude stocks fall on hurricane production shut-ins; distillate inventories fall, EIA says. Crude oil (-0.23%) was lower too, so the selling was across the energy market.
  • Today's range: 4.7456–4.8694 · Week: up 7.99¢ (+1.69%)
• Natural Gas (Nov): $3.100/MMBtu, down $0.136 (-4.20%)
  • Why: US Natural Gas Prices Fall 4% to 11-Week Low on Record Output.
  • Today's range: 3.063–3.229 · Week: down $0.12 (-3.73%)
• Gold (Dec): $4,207.40/oz, up $37.30 (+0.89%)
  • Why: TSX futures edge higher as gold prices rise; comments from BoC’s Macklem in focus. Silver (+1.15%) was higher too, so the buying was across the metals market.
  • Today's range: 4,167.50–4,220.20 · Week: down $8.90 (-0.21%)
• Silver (Dec): $57.81/oz, up $0.655 (+1.15%)
  • Why: Gold and silver prices rise on commodity markets. Gold (+0.89%) was higher too, so the buying was across the metals market.
  • Today's range: 57.225–58.14 · Week: down $3.24 (-5.30%)
• Copper (Dec): $6.6255/lb, up 6.9¢ (+1.05%)
  • Why: Limited Copper Price Rebound, No Improvement in Copper Scrap Market Transactions [SMM Secondary Copper Daily Review].
  • Today's range: 6.5465–6.6490 · Week: down 6.65¢ (-0.99%)

Input costs (USDA Iowa, week ending Oct 16)

• Anhydrous ammonia: $906/ton, even from the last report, 17% above a year ago.
• 32% liquid nitrogen (UAN): $488/ton, even from the last report, 3% above a year ago.
• MAP (11-52-0): $972/ton, up $8 from the last report, 8% above a year ago.
• Potash (0-0-60): $494/ton, up $2 from the last report, 1% above a year ago.
• Farm diesel: $5.49/gal, down 6¢ from the last report, 93% above a year ago.
• A ton of anhydrous costs 191 bushels of corn at today's price (184 a year ago, 169 on average the last 5 years).

Fertilizer and fuel vs last year and the 5-year average

On deck

• Today: USDA Iowa input costs (fertilizer, fuel), 12:00pm CT
• Today: Weekly recap email (Week in Review), 3:00pm CT

Informational only — not investment, trading or financial advice. Prices may be delayed.