Posted at 10:33 a.m. – May corn is up 1/4 cent per bushel, May soybeans are down 5 1/4 cents per bushel. May KC wheat is down 11 1/2 cents per bushel, May Chicago wheat is down 16 3/4 cents per bushel and May Minneapolis wheat is down 8 cents. The Dow Jones Industrial Average rose 245.04 points to 38,830.23. The US dollar index fell 0.470 to 103.33 and April crude oil rose $2.44 a barrel to $80.59. Mid-morning wheat losses increase with both Chicago and KC hitting new contract lows again, while Minneapolis appears to be on track. The trigger is falling world wheat values as both Black Sea and EU exporters fight for business. Russian FOB wheat prices for 12.5 protein have now fallen below $200/mt. Corn is almost flat in quiet trading, soybeans and soymeal are lower, while bean oil is higher.
Posted at 8:40 a.m. – May corn price is up 3/4 cent per bushel, May soybean price is down 3 cents per bushel. May KC wheat fell 3 1/4 cents per bushel, May Chicago wheat fell 2 3/4 cents per bushel and May Minneapolis wheat fell 3 1/4 cents. The Dow Jones Industrial Average rose 240.64 points to 38,825.83. The US dollar index fell 0.290 to 103.50 and April crude oil rose $1.46 a barrel to $79.61. Corn is almost unchanged in a narrow range, while wheat, soybeans and soymeal are only slightly lower; Soybean oil is on the rise in the palm and crude oil markets. There is hardly any new news, but the South American weather remains mostly favorable.
Posted at 11:35 a.m. – April live cattle are down $0.90 to $187.1, April feeder cattle are down $1.75 to $255,425, April lean hogs are down $1.25 to $83,925 decreased, in May corn was down 1 cent per bushel and in May soybean meal was stable. The Dow Jones Industrial Average is up 234.55 points. Bids are currently being placed in the South at $182, but with asking prices significantly higher at $186 to $187, no cattle have been traded yet. In the north, asking prices remain difficult to determine and it is likely that this week's trading will be delayed until Thursday.
Posted 08:39 – April live cattle decreased $0.53 to $187,475, April feeder cattle decreased $0.45 to $256,725, April lean hogs decreased $0.18 to $85.00, in May corn was up 1/2 cent per bushel and in May soybean meal was down $3.30 . The Dow Jones Industrial Average rose 243.71 points. Livestock inventory is seeing a decline as the market patiently seeks dealer support and demand. There is still no trading in the cash cattle market, but interest is expected to increase as the day progresses.
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