- December corn $6.675 down $0.0825

- January soybeans $14.465 down $0.0375

- December soybean meal $419.30 up $0.30

- December soybean oil 75.03 down 130 points

- December Chicago wheat $8.2775 down $0.18

- December live cattle $153.05 unchanged

- December lean hogs $85.57 down $1.47

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Market recap (changes on week):

- December corn down $.16 at $6.75

- November soybeans up $.33 at $14.07

- December soybean oil up 3.13 cents at 76.33 cents/lb

- December soybean meal down $9.10 at $419/short ton

- December wheat down $.37 at $8.45

- July wheat down $.24 at $8.79

- WTI Crude Oil up $5.41 at $90.81/barrel

Weekly highlights:

- Ethanol production increased for the fifth straight week- up to nearly 306 million gallons per week.

- The Federal Reserve Increased their Federal Funds benchmark 75 basis points for the fourth straight time this year- bringing the rate to 3.75-4.00.

- US ag export sales were mixed on the week. Up for corn and wheat, but flat for grain sorghum and down for soybeans, soybean meal and soybean oil. Soybean meal and oil fell below all expectations.

- Open interest futures and options positions of Chicago wheat continue to be on a slow but consistent increase, Chicago corn future and option open interest positions were up 3% while Chicago soybean open interest was down 7% (22% over two weeks). Money managers increased their net positions of corn and soybeans while selling off some Chicago wheat positions.

- Weekly grain exports were week for feed grains- falling below expectations for corn, grain sorghum and wheat. However, export inspections of soybeans were strong and above expectations coming in at the 3rd highest weekly volume over the last year.

- 92% of the US winter wheat crop has been planted up to this point- although the condition is historically low.

- USDA ERS came out with their 2023-2033 baseline assumptions on Monday- their assumption for US corn production of trend line yield of 181.5 bushels per acre and 92 million planted acres puts corn production at a record 15.265 billion bushels.

- Soybean trend line yield of 52 bushels per acre for 2022/23.

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North Iowa farmer Stu Swanson is the incoming chair of Iowa Corn’s Animal Ag and Environment Committee.

He says the environment is an important part of the Association’s focus and points to a new strategic plan to help build soil health and keep water clean.

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Grain-fed beef, pork and lamb provide additional avenues for corn in the U.S. and abroad. John Hinners, Senior Vice President of Industry Relations with the U.S. Meat Export Federation, explains how they help create better returns for corn farmers.

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The Enlist weed control system continues to expand its footprint across the Midwest and Enlist field specialist Tony Goede says Corteva Agriscience is ensuring farmers planting E3 soybeans have all the right resources for a successful season.

He tells Brownfield there are a variety of tools including webinars hosted by Enlist field specialists.

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- December corn $6.81 up $0.0175

- November soybeans $14.515 up $0.2475

- December soybean meal $420.40 up $6.10

- December soybean oil 77.17 up 188 points

- December Chicago wheat $8.4775 up $0.0725

- December live cattle $151.65 down $0.30

- December lean hogs $82.97 down $0.40

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Last week Precision Planting’s product marketing specialist explained why they have entered the sprayer market. This week, Andrew Feucht returns to introduce two new sprayer technologies they are working on for farmers – Symphony and Vision.

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- December corn $6.7925 down $0.0825

- November soybeans $14.2675 down $0.1325

- December soybean meal $414.30 down $10.20

- December soybean oil 75.29 down 32 points

- December Chicago wheat $8.405 down $0.055

- December live cattle $151.95 up $0.55

- December lean hogs $83.37 up $0.07

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On this latest episode, CROPLAN seed product manager Robert Cossar discusses management considerations for farmers when they select the best soybean trait packages for their operations. He says there are several factors to keep in mind when planning for next year.

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