Posted at 10:36 a.m. – December corn is down 3 1/2 cents per bushel, November soybeans are down 13 cents, December KC wheat is up 1 3/4 cents, December Chicago wheat is up 9 cents and Minneapolis wheat rose 2 cents in December. The Dow Jones Industrial Average rose 28.68 points and crude oil rose $3.47 a barrel in November. The US Dollar Index is up 0.130 and by mid-morning early gains in corn and soy have evaporated, with both markets under pressure while only Chicago wheat remains significantly higher. We’ll likely see some profit-taking after soybeans rose sharply on Thursday. Soymeal has given up gains and is now also trading lower.
Posted 08:34 – December corn up 2 1/4 cents per bushel, November soybeans up 4 1/4 cents, December KC wheat up 12 1/2 cents, December Chicago wheat is up 13 cents and December wheat from Minneapolis is up 11 1/2 cents. The Dow Jones Industrial Average rose 189.12 points and crude oil rose $3.31 a barrel in November. The US Dollar Index fell by 0.030 and the USDA reported three new export sales: sale of 181,000 metric tons (6.7 million metric tons) of soft red winter wheat to China, sale of 117,000 metric tons (4.3 million metric tons) of soybeans unknown destinations and sale of 100,000 tons of soybean cake and food to unknown all for 2023-24. Soybeans, wheat and soymeal are leading grain and soy markets higher again after WASDE’s bullish soy report on Thursday.
Posted at 11:21 a.m. — December live cattle are down $0.33 to $187,475, November feeder cattle are down $0.80 to $252,775, December lean pork is down $0.50 to 69.6 $ down, corn down 2 3/4 cents per bushel in December and soybean meal down $3.60 in December. The Dow Jones Industrial Average rose 60.04 points. Trading has not progressed further in the Cash Cather market and it looks like the majority of the week’s trading has concluded. There could be further sales this afternoon, but they will likely be adjusted in nature and based on prices set for the week.
Posted 08:33 — December live cattle increased $0.18 to $187,975, November feeder cattle increased $0.03 to $253.6, December lean hogs decreased $0.43 to $69,675 , December corn is up 1 1/2 cents per bushel and December soybean meal is up $5.20. The Dow Jones Industrial Average rose 155.31 points. Net sales of beef in 2023 were 9,000 tonnes, down 32% from the previous week and 29% below the previous four-week average. The three main buyers were South Korea (2,400 tons), Japan (1,900 tons) and Mexico (1,800 tons). Net sales of 21,100 tons of pork in 2023 were 51% below the previous week and 32% below the previous four-week average. The three largest buyers were Mexico (8,700 mt), Japan (3,500 mt) and Colombia (2,600 mt).
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