Thursday, June 8, 2023 11:48AM CDT
The latest run of the U.S. Drought Monitor shows expanding D1, or moderate drought, conditions across the Eastern Corn Belt, while rainy weather in the Southern Plains led to notable improvements.
July corn is down 4 1/2 cents per bushel, July soybeans are up 4 3/4 cents, July KC wheat is down 10 1/4 cents, July Chicago wheat is down 3 cents and July Minneapolis wheat is down 8 1/4 cents.
Cattle futures tried to move higher Thursday but succumbed to further selling pressure in the end. This is surprising as cash cattle traded higher this week. Hogs put in somewhat of a quiet day with August closing its chart gap.