(Illustration by Nick Scalise)
OMAHA (DTN) – The price of corn fell 4 1/4 cents per bushel in May and soybeans fell 8 1/4 cents per bushel in May. May KC wheat is down 3/4 cent per bushel, May Chicago wheat is up 3/4 cent per bushel and May Minneapolis wheat is up 1 3/4 cent. The Dow Jones Industrial Average rose 276.60 points to 39,558.93. The US dollar index rose by 0.140 to 104.43 and May crude oil fell by $0.22 a barrel to $81.40. Corn, soybeans and soybean oil are under pressure early Wednesday, while wheat is mixed in a quiet trade. Thursday promises to be a potentially volatile day as the USDA stocks and seeding report, month-end and quarter-end reports head into a long holiday weekend. By the end of the day, we could see some short selling in corn and soy ahead of the report release.
Posted 08:38 – June live cattle increased $0.33 to $178.7, May feeder cattle decreased $0.08 to $247,175, June lean hogs increased $0.58 to $101,925, in May corn was down 4 1/2 cents per bushel and in May soybean meal was down $0.60. The Dow Jones Industrial Average rose 275.18 points. After the sharp decline in trading on Tuesday, both the live cattle and feed cattle markets are back in the black. Still no cash cattle trade has developed, but packer interest should increase as the day progresses.
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