Posted at 10:34 a.m. – The price of corn is up 7 3/4 cents per bushel, the price of May soybeans is up 11 1/2 cents per bushel. May KC wheat is up 21 cents per bushel, May Chicago wheat is up 6 cents per bushel and May Minneapolis wheat is up 14 1/2 cents. The Dow Jones Industrial Average rose 113.14 points to 38,774.19, the US dollar index fell 0.460 to 102.91 and crude oil fell $0.40 a barrel to $78.73 in April. The grain and soy markets continued to post strong gains this morning. The leaders are KC wheat, soybeans and bean oil; Corn and bean oil have now broken through the 20-day moving averages.
Posted at 8:35 a.m. – Corn price is up 5 1/4 cents per bushel, May soybean price is up 9 1/4 cents per bushel. May KC wheat is up 6 3/4 cents per bushel, May Chicago wheat is up 1/2 cent per bushel and May Minneapolis wheat is up 7 1/2 cents. The Dow Jones Industrial Average rose 207.22 points to 38,868.27. The U.S. dollar index fell 0.220 to 103.15 and April crude oil fell $1.00 a barrel to $78.13. The USDA said China had canceled an earlier sale of 130,000 metric tons (4.8 million tons) of soft red winter wheat for 2023-24. Grain and soy markets are higher in a period of short covering ahead of March's WASDE report on Friday. Soybeans and KC wheat are leading the rise.
Posted at 11:36 a.m. – April live cattle are up $1.00 to $188.25, April feeder cattle are down $0.33 to $255.55, April lean hogs are steady, May is corn up 7 cents per bushel and May soybean meal was up $1.80. The Dow Jones Industrial Average rose 100.42 points. Bids are currently being made in both regions as interest from Packers has increased. but no cattle were sold. At this point it looks like trading will be delayed until Friday. Asking prices are $186 to $187 in the south and $294 and up in the north.
Published at 8:35 a.m. – April live cattle are up $0.25 to $187.5, April feeder cattle are down $0.48 to $255.4, April lean hogs are up $0.03 Down $84,975, May corn is up 5 cents per bushel and May soybean meal is up $1.70. The Dow Jones Industrial Average rose 209.50 points. Thursday's export sales report said 2024 beef net sales of 14,000 tonnes were 14% higher than the previous week, but 10% lower than the previous four-week average. The three largest buyers were South Korea (4,300 mt), Japan (2,300 mt) and Taiwan (1,700 mt). Net sales of 36,400 tons of pork in 2024 were 12% higher than the previous week and 9% higher than the previous four-week average. The three largest buyers were China (12,600 mt), Mexico (11,200 mt) and Vietnam (5,000 mt).
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