Closing Grain and Livestock Futures

WEB August 15, 2024 By John Perkins

Filed Under Closing Futures Livestock Briefs Crops Markets Dairy

Information is provided as is and solely for informational purposes.

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Futures Prices

• Corn: $3.50/bu
• Soybeans: $9.00/bu
• Wheat: $4.00/bu

Futures Quotes

• Corn: Up 3 cents
• Soybeans: Down 5 cents
• Wheat: Unchanged

Futures Charts

Click here to view futures charts.

Recent Market Movements

Corn futures have been trading sideways in recent weeks, with prices hovering around $3.50/bu. Soybeans futures have been under pressure, falling 5 cents today to $9.00/bu. Wheat futures have been relatively stable, trading around $4.00/bu.

The USDA released their first survey-based estimates of 2024 corn and soybean production today. The USDA estimates that corn production will be 15.4 billion bushels, down from 16.1 billion bushels last year. The USDA also estimates that soybean production will be 4.6 billion bushels, down from 4.8 billion bushels last year.

These estimates are based on conditions as of August 1, and could change significantly before harvest. However, they provide an early indication of what the 2024 crop may look like.

What's Next?

All eyes will be on the weather in the coming weeks, as it will play a key role in determining the size of the 2024 crop. The next USDA crop report is scheduled for release on August 30.