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Export cancelations have added fuel to the fire in the corn market.  Private exporters reported the cancellation of sales of 233,000 metric tons (9,172,802 bushels) of corn for delivery to China during the 2022/2023 marketing year.   This is the second corn cancellation from China this week, the first was on April 24th for 327,000 metric tons (12,873,417 bushels).  July corn futures are continuing to make new lows for the move.  Midway through the session, futures are 18 cents lower to 583.  The new crop December contract is 12 cents lower to 531 ½. 

July soybeans are 8 ¼ cents lower, trading to 1406 ½.  The new crop November contract is 9 ¾ cent slower to 1257.

July Chicago wheat is 16 cents lower, trading to 626, that’s ½ cent off today’s low.  July KC wheat is 17 ½ cents lower to 765 ¾. 

On the livestock side, June live cattle have been on both sides of unchanged.  Halfway through the day, they are 20 cents higher to 164.77.  August feeder cattle are .67 higher to 231.62.  June lean hogs saw some follow-through buying on the open but have since reversed and are down .50 through the morning.   The December contract, which we’ve been more optimistic about is up .50 to 79.25.

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