Posted at 10:32 a.m. – The price of corn is up 1 1/4 cents per bushel, the price of May soybeans is up 13 1/2 cents per bushel. May KC wheat is down 1 1/2 cents per bushel, May Chicago wheat is up 1 1/2 cents per bushel and May Minneapolis wheat is stable. The Dow Jones Industrial Average rose 216.68 points to 38,986.34. The US dollar index rose 0.230 to 103.10 and April crude oil rose 0.42 USD per barrel to 78.35 USD. In the morning, soybeans and soybean oil posted strong gains, with bean oil rising above the 50-day moving average in May for the first time in three months. The corn and wheat markets are at an unchanged level. There is increasing concern about drying in central and northern Brazil. The big news is that CONAB's estimates for Brazilian soy and corn total are 19 million tons lower than the USDA.
Posted 08:39 – May corn is down 1 1/4 cents per bushel, soybeans are up 1 1/4 cents in May, KC wheat is down 4 1/4 cents in May, Chicago wheat is up in May 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 at 11:36 a.m. – April live cattle are up $0.75 to $188.35, April feeder cattle are up $1.00 to $254.1, April lean hogs are up $1.85 Up $85,125, May corn is down 1 1/2 cents per bushel and May soybean meal is down $0.50. The Dow Jones Industrial Average rose 169.26 points. With both packaged beef prices and pork cut values trading higher, livestock contracts easily traded higher. There has still been no cash catering trade developed and it looks like trading will be delayed until the second half of the week.
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 in the spot market and trading is likely to be delayed until the second half of the week.
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