Posted at 10:40 a.m. – May corn price is down 3 1/4 cents per bushel, May soybean price is up 7 3/4 cents per bushel. May KC wheat fell 12 3/4 cents per bushel, May Chicago wheat fell 12 1/4 cents per bushel and May Minneapolis wheat fell 8 1/4 cents. The Dow Jones Industrial Average rose 26.88 points to 39,137.64, the U.S. dollar index rose 0.150 to 103.99 and May crude oil fell $1.64 a barrel to $81.09. Wheat losses have accelerated since the opening, while corn losses have been lower. Favorable weather in Brazil's main Safrinha corn growing regions is weighing on corn futures. Soybeans, soybean meal and bean oil are all slightly higher on a day without much new news to drive markets.
Posted at 10:11 a.m. – May corn price is down 2 1/2 cents per bushel, May soybean price is up 6 1/4 cents per bushel. May KC wheat fell 13 1/2 cents per bushel, May Chicago wheat fell 14 1/4 cents per bushel and May Minneapolis wheat fell 9 1/4 cents. The Dow Jones Industrial Average rose 31.31 points to 39,142.07 and the U.S. dollar index rose 0.170 to 104.01 and May crude oil fell $1.36 a barrel to $81.37. The EIA's weekly petroleum status report showed ethanol production rose 2.1% to 1.046 million barrels per day in the week ended March 15, up 5% from a year earlier. Ethanol inventory rose slightly by 1% to 26 million barrels compared to 26.2 mb a year ago.
Posted at 8:35 a.m. – May corn price is down 1 1/2 cents per bushel, May soybean price is up 7 3/4 cents per bushel. May KC wheat fell 8 1/2 cents per bushel, May Chicago wheat fell 9 1/4 cents per bushel and May Minneapolis wheat fell 4 3/4 cents. The Dow Jones Industrial Average fell 77.40 points to 39,033.36. The US dollar index rose 0.280 to 104.12 and May crude oil fell $1.40 a barrel to $81.33. The USDA announced new crop (2024-25) soybean sales of 120,000 mt (4.4 mb) to undisclosed destinations. Wheat remains under pressure, slowing the two-day price rally. Soybeans and soymeal are firmer after two consecutive lows.
Posted at 11:38 a.m. – June live cattle are down $0.55 to $184.45, April feeder cattle are down $0.55 to $254,525, June lean hogs are down $0.28 to $100,975 decreased, May corn was down 2 1/4 cents per bushel and May soybean meal was up $5.00. The Dow Jones Industrial Average fell 4.42 points. Livestock continues to move sideways to slightly lower as the market craves stronger fundamental support – particularly in the form of stronger cash livestock trading. However, there has still been no cash catering trade developed and it looks like trading will be delayed at this point until Thursday.
Posted 08:34 – June live cattle are up $0.03 to $185,025, April feeder cattle are up $0.18 to $255.25, June lean hogs are up $0.05 to $101.3 , Corn is down 1 1/2 cents per bushel and soybean meal is up $4.60 in May. The Dow Jones Industrial Average fell 84.04 points. The livestock complex is trading mixed early on Wednesday, with live cattle contracts most fearful of trading higher. The live cattle sector is expected to trend sideways throughout the day as cash cattle trading has not yet developed. Cash cattle trading is expected to be at least $1.00 higher this week, but only time will tell.
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