Posted at 10:41 a.m. – May corn price is up 5 cents per bushel, May soybean price is up 10 1/4 cents per bushel. May KC wheat fell 6 1/2 cents per bushel, May Chicago wheat fell 7 1/2 cents per bushel and May Minneapolis wheat fell 5 3/4 cents. The Dow Jones Industrial Average fell 88.48 points to 38,883.93 and the U.S. dollar index rose 0.150 to 103.98 and April crude oil fell $0.57 a barrel to $78.30. Corn, soybeans and soymeal are rebounding strongly as drier and warmer forecasts are forecast for central Brazil over the next 10 days. Wheat markets are recovering somewhat but remain lower. Ethanol production and corn consumption continue to exceed the USDA's annual forecast.
Posted at 9:55 a.m. – May corn is up 1 1/2 cents per bushel, May soybeans are flat. May KC wheat is down 8 cents per bushel, May Chicago wheat is down 9 cents per bushel and May Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average fell 82.92 points to 38,889.49, the U.S. dollar index rose 0.180 to 104.01 and April crude oil rose $0.15 a barrel to $79.02. The EIA, in its weekly petroleum status report, expects ethanol production to remain high at 1.078 million barrels per day (mbd), compared to 1.084 mbd last week and 1.003 mbd a year ago. Ethanol stocks rose 2% to 26 million barrels, up from 24.8 mb a year ago.
Posted at 8:42 a.m. – Corn price is down 1 1/4 cents per bushel, May soybean price is down 4 1/2 cents per bushel. May KC wheat fell 11 1/4 cents per bushel, May Chicago wheat fell 9 cents per bushel and May Minneapolis wheat fell 4 3/4 cents. The Dow Jones Industrial Average fell 217.45 points to 38,754.96, the U.S. dollar index rose 0.200 to 104.03 and April crude oil rose $0.39 a barrel to $79.26. Corn futures remain fairly steady and slightly lower amid rumors that China may have picked up some shipments of PNW corn. Soybeans and oil are slightly lower and wheat is under heavy selling pressure as some rain may move into harsh winter areas later in the week. However, temperatures in Nebraska and Kansas will reach single digits and could cause minor damage before warming occurs.
Posted at 11:19 a.m. – April live cattle are down $1.13 to $186.6, April feeder cattle are down $2.90 to $256.05, April lean hogs are up $0.95 May corn is up $86.85, May is up 4 1/4 cents per bushel and May soybean meal is up $4.50. The Dow Jones Industrial Average is down 74.60 points. Livestock contracts are subject to mild technical pressures that could slightly impact cash cattle prices this week. No cash trade has developed yet and it looks like trading will be delayed at this point until Thursday.
Posted 08:40 – April live cattle are down $0.10 to $187,625, April feeder cattle are down $0.35 to $258.6, April lean hogs are up $0.53 to $86,425, in May corn was down 1 1/4 cents per bushel and in May soybean meal was up $0.50. The Dow Jones Industrial Average is down 201.97 points. Cattle contracts are once again trading lower as the market patiently waits to see what happens in the cash market. There are no bids yet and it looks like this week's deal could be delayed until Thursday or possibly even Friday.
(c) Copyright 2024 DTN, LLC. All rights reserved.
Comments are closed.