Posted at 10:35 a.m. – Corn prices rose 3 cents a bushel in May and soybeans rose 5 1/2 cents a bushel in May. May KC wheat is up 11 1/2 cents per bushel, May Chicago wheat is up 10 cents per bushel and May Minneapolis wheat is up 8 1/2 cents. The Dow Jones Industrial Average fell 151.17 points to 38,918.06, the U.S. dollar index fell 0.080 to 103.75 and April crude oil rose $0.80 a barrel to $78.38. Grain and soy markets continue to trade higher, led by wheat. Soybeans have declined and soymeal has remained almost unchanged. There isn't much news, but the strength is likely related to slower liquidation in March contracts ahead of the first day of announcements next week. The weather is a little more worrying in central and northern Brazil as these areas become warmer and drier.
Posted at 8:36 a.m. – Corn prices are up 2 3/4 cents per bushel, May soybean prices are up 14 1/4 cents per bushel. May KC wheat is up 6 1/2 cents per bushel, May Chicago wheat is up 4 1/4 cents per bushel and May Minneapolis wheat is up 10 1/4 cents. The Dow Jones Industrial Average fell 56.55 points to 39,012.68, the U.S. dollar index fell 0.030 to 103.80 and April crude oil rose $0.43 a barrel to $78.01. The USDA announced a new sale of 123,000 mt, or 4.5 million bushels, of old crop (2023-24) soybeans to unknown destinations. Grain and soy markets are higher again after recovering from new lows. It is likely that there will be some short covering by the fund as the weather outlook for Brazil shows more warmth and dryness than desired over the next ten days.
Posted at 11:33 a.m. — April live cattle are down $0.70 to $187.4, April feeder cattle are down $1.10 to $257.8, April lean hogs are down $0.40 fell to $85,875, May corn was up 3 cents per bushel and May soybean meal was down $2.50. The Dow Jones Industrial Average is down 167.22 points. The livestock complex is mostly trading lower as traders show little interest in livestock contracts. No cash cattle trade has developed, but in the South asking prices are $185 to $186.
Posted 08:40 — April live cattle are up $0.05 to $188.15, April feeder cattle are up $0.45 to $259.35, April lean hogs are up $0.03 to 86 $.3 up, May corn was up 2 1/2 cents a bushel and May soybean meal was up $4.90. The Dow Jones Industrial Average is down 45.76 points. Livestock is trading mostly higher heading into Tuesday. Corn prices are also higher early Tuesday, but this does not appear to be negatively impacting the feed industry at this time as demand for beef is still strong and feed remains relatively cheap.
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