(Illustration by Nick Scalise)
OMAHA (DTN) – May corn rose 1/2 cent per bushel, May soybeans fell 3 1/4 cents per bushel. May KC wheat fell 2 1/4 cents per bushel, May Chicago wheat fell 2 cents per bushel and May Minneapolis wheat fell 2 1/2 cents. The Dow Jones Industrial Average rose 75.73 points to 39,835.81 and the U.S. dollar index rose 0.070 to 104.42 and May crude oil rose $1.24 a barrel to $82.59. Wheat, soybeans and produce are trading slightly lower early Thursday, while corn is slightly firmer in quiet pre-report trading. Traders are expecting a bearish result in Thursday's USDA report and any positive surprise could move markets as major funds are shorted in every market.
Posted 8:35 a.m. – June live cattle are down $0.48 to $178.2, May feeder cattle are down $1.05 to $247,225, June lean hogs are down $0.45 to 101.15 $ decreased, May corn was up 1/2 cent per bushel and May soybean meal was down $1.70. The Dow Jones Industrial Average rose 84.68 points. Beef net sales in 2024 were 12,700 tonnes, up 15% from the previous week and 4% above the previous 4-week average. The three main buyers were South Korea (3,400 tons), Japan (3,400 tons) and China (2,000 tons). Net sales of 55,300 tonnes of pork in 2024 – a high for the marketing year – were 64% higher than the previous week and 74% higher than the weighted average for the previous four weeks. The three main buyers were Mexico (32,800 tons), Japan (5,700 tons) and Australia (5,400 tons).
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