Posted at 10:43 a.m. – May corn is down 3/4 cent per bushel, May soybeans are down 2 cents per bushel. May KC wheat is down 3 1/2 cents per bushel, May Chicago wheat is down 2 1/4 cents per bushel and May Minneapolis wheat is stable. The Dow Jones Industrial Average rose 319.24 points to 39,831.37. The US dollar index rose 0.550 to 103.96 and May crude oil fell 0.70 dollars a barrel to 80.57 dollars. Markets have now given back all early gains and some of them, and all but soybean meal are trading at intraday lows today. There is very little news to drive markets on Thursday, with wheat and soy export commitments still falling short of expectations.
Posted at 8:39 a.m. – Corn price is up 3 3/4 cents per bushel, May soybean price is up 2 3/4 cents per bushel. 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 at 11:34 am – June live cattle are up $0.03 to $184.8, April feeder cattle are up $0.03 to $254.95, June lean hogs are up $1.40 Down $99,225, May corn down 1/4 cent per bushel and May soybean meal up $1.50. The Dow Jones Industrial Average rose 326.93 points. In the South, there is light trading at $188, which is $2.00 above last week's weighted average. Still no trade has developed up north and currently feedlots are passing bids of $302.
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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