(Illustration by Nick Scalise)
OMAHA (DTN) – May corn down 1 1/4 cents per bushel, May soybeans up 1 1/4 cents, May KC wheat down 4 1/4 cents, May Chicago- Wheat down 3/4 cent and May Minneapolis wheat is down 3 cents. The Dow Jones Industrial Average is up 96.99 points and crude oil is up $0.09 a barrel in April. The US Dollar Index rose by 0.240 and gold fell by $21.20 an ounce in April. Brazil's official CONAB estimates released today include a reduction in estimates for soybean production to 146.9 million t and corn production to 112.7 million t, which is below the USDA's latest March WASDE estimate of 155 million t or 124 million t and has a positive effect on the prices for row crops. February inflation was reported at 3.2% year-on-year, higher than expected, supportive for U.S. dollar trading and negative for commodity and stock prices.
Posted 08:36 — April live cattle increased $0.45 to $188.05, April feeder cattle increased $0.48 to $253,575, April lean hogs increased $0.20 to $83,475 , May corn was down 1 cent per bushel and May soybean meal was up $0.50. The Dow Jones Industrial Average rose 103.19 points. The livestock complex is trading mixed early on Tuesday as traders hope to find better fundamental support in the market. No business has developed on the spot market and trading is likely to be delayed until the second half of the week.
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