Posted at 10:32 a.m. – May corn is up 3/4 cents per bushel, May soybeans are down 4 1/4 cents per bushel. May KC wheat fell 7 3/4 cents per bushel, May Chicago wheat fell 2 1/2 cents per bushel and May Minneapolis wheat fell 4 1/2 cents. The Dow Jones Industrial Average rose 152.55 points to 39,158.04. The U.S. dollar index fell 0.160 to 102.80 and April crude oil rose $1.61 a barrel to $79.17. Soybeans and soymeal remain lower while corn and soybean oil are trading higher. Wheat markets are all down amid rumors that China has now canceled some earlier French wheat purchases after canceling nearly 19 million tonnes of US common wheat last week.
Published at 8:39 a.m. – In early Wednesday trading, corn was down 1/4 cent per bushel, soybeans were down 8 1/2 cents, KC wheat was down 6 3/4 cents and Chicago wheat was down 1 3 cents/4 cents and May Minneapolis wheat fell 4 cents. The Dow Jones Industrial Average is up 85.45 points and crude oil is up $1.85 a barrel in April. The US Dollar Index is down 0.090 and gold is up $5.80 an ounce in April. Crop futures gave back some or all of Tuesday's gains after a supportive forecast for row crop production from Brazil's official CONAB. The exception is soybean oil, which continues to rise and is heading toward a test of its 100-day moving average. Crude oil has rebounded, helped in part by weekly data from the American Petroleum Institute showing a decline in crude oil inventories for the first time in six weeks.
Posted at 11:30 a.m. – April live cattle are up $1.35 to $189.6, April feeder cattle are up $0.88 to $255, April lean hogs are up $0.73 to $84,625 down, May corn is down 3/4 cent per bushel and May soybean meal is down $5.80. The Dow Jones Industrial Average rose 172.34 points. Both the live and feeder cattle markets are higher, which could potentially help the cash market stabilize at higher levels of $1.00 or $2.00. It is likely that trading will be delayed until Thursday or later as feedlots raise prices for their livestock again.
Posted 8:35 a.m. – April live cattle are up $0.30 to $188.55, April feeder cattle prices are up $0.33 to $254.45, April lean hogs are up $0.58 Down $84,775, May corn is down 2 3/4 cents per bushel and May soybean meal is down $5.50. The Dow Jones Industrial Average rose 73.84 points. Asking prices are $187 in the south, but have yet to be determined in the north. Trading is unlikely to develop on Wednesday but will be delayed until Thursday or Friday.
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