(Illustration by Nick Scalise)
OMAHA (DTN) – The price of corn rose 3 3/4 cents per bushel in May and soybeans rose 2 3/4 cents per bushel in May. May KC wheat is steady, May Chicago wheat is up 5 cents a bushel and May Minneapolis wheat is up 3 3/4 cents. The Dow Jones Industrial Average rose 120.84 points to 39,632.97. The US dollar index rose by 0.290 to 103.70 and May crude oil fell by $0.21 a barrel to $81.06. With the exception of bean oil futures, all grain and soy markets are higher. As markets rise above the closely watched 50-day moving average, we could see funds begin to reduce some of their short risk. It's a day of weak news, but the weather in South America remains mostly favorable and that is weighing on prices.
Posted 08:36 — June live cattle are up $0.08 to $184.85, April feeder cattle are down $0.60 to $254,325, June lean hogs are down $0.60 to $100,025 , May corn was up 3 3/4 cents per bushel and May soybean meal was up $3.30. The Dow Jones Industrial Average rose 173.91 points. Net beef sales of 11,000 tonnes in 2024 – a marketing year low – were 2% below the previous week and 12% below the previous four-week average. The three largest buyers were South Korea (4,300 mt), China (2,100 mt) and Japan (2,000 mt). Net sales of 33,800 tons of pork in 2024 increased 36% from the previous week and 10% from the previous 4-week average. The three main buyers were Mexico (9,200 tons), Canada (8,900 tons) and Japan (5,500 tons).
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