(Illustration by Nick Scalise)
OMAHA (DTN) – By midmorning Tuesday, soybean prices recouped some of their earlier losses, helped by May soybean oil trading, which rose 0.14 cents, helped by small gains in canola and palm oil. March corn is down 3 1/4 cents and March soybeans are down 2 1/4 cents. May KC wheat is down 8 3/4 cents and May Minneapolis wheat is down 8 3/4 cents. In May, Chicago wheat is trading at a new contract low, down 13 cents, amid scattered rain across the eastern Midwest, despite a 72% increase in export sales commitments in 2023-24. Crude oil rose $0.22 in April, largely ignoring Russia's weekend production cut announcement and China's new growth plans. Dow Jones futures are down 240 points, the US dollar index is down 0.13 and April gold prices are up $9.00.
Posted at 8:39 a.m. – After opening at 8:30 a.m. CST, the three primary crops are all declining while the forecast remains generally favorable for both Brazil and Argentina. March corn is down 2 1/2 cents and March soybean prices are down 3 3/4 cents. May KC wheat is down 8 3/4 cents, with precipitation possible on Thursday and Friday. Minneapolis wheat fell 5 1/4 cents in May. April crude oil prices are down $0.45 and Dow Jones futures are down 140 points. The US Dollar Index fell by 0.01 and gold prices for April rose by $13.60.
Posted 08:38 — April live cattle are up $0.48 to $187.15, April feeder cattle are up $1.03 to $256,775, April lean hogs are down $0.05 to $86,225 , in May corn was down 2 3/4 cents per bushel and in May soybean meal was down $2.30. The Dow Jones Industrial Average is down 145.55 points. After the barren day on Monday, the livestock population is mostly in the black again. No bids or ask prices were released in the cash-catching market and trading is likely to be delayed until the second half of the week.
(c) Copyright 2024 DTN, LLC. All rights reserved.
Comments are closed.