(Illustration by Nick Scalise)
OMAHA (DTN) – December corn is up 3 cents per bushel, November soybeans are down 1 1/2 cents, December KC wheat is up 8 cents, December Chicago wheat is up 7 1/2 Cents up and December Minneapolis wheat is up 4 cents cents. The Dow Jones Industrial Average is down 145.26 points and crude oil is up $1.18 a barrel in November. The US Dollar Index is up 0.290 and gold is up $18.90 an ounce in December. Corn futures remain higher after supportive statistics from the Energy Information Administration pointed to higher-than-expected ethanol production, while inventories of ethanol, crude oil and gasoline fell last week. Soybean, soybean oil and canola futures have given up earlier gains and are moving into negative territory, discounting today’s news of better-than-expected economic data from China and ignoring gains in crude oil, while soymeal remains higher after broke the psychological resistance at 400 USD/USD. Ton.
Posted at 10:10 a.m. – December corn is up 2 1/2 cents per bushel, November soybeans are up 1/4 cent, December KC wheat is up 5 cents, December Chicago wheat is up Up 5 1/4 cents and December Minneapolis wheat rose 2 3/4 cents higher. The Dow Jones Industrial Average fell 169.08 points and crude oil rose $1.49 a barrel in November. The US Dollar Index rose 0.250 and for the week ended October 13, ethanol production rose 3% to 1.035 million barrels per day. Ethanol inventory fell 1.9% to 21.1 million barrels, both signs of improving demand.
Posted at 8:35 a.m. – December corn is up 3 3/4 cents per bushel, November soybeans are up 5 cents, December KC wheat is up 4 3/4 cents, December Chicago wheat is up 5 1/4 cents and December Minneapolis wheat was up 5 1/4 cents. The Dow Jones Industrial Average is down 62.86 points and crude oil is up $1.36 a barrel in November. The US Dollar Index rose by 0.090 and the USDA announced a new sale of 132,000 mt (4.85 mb) of soybeans to China in 2023-24. The grain and soy markets have risen in line with soybeans and soymeal, with soybeans and soymeal still the bullish frontrunners. There is clear harvest weather for the rest of the week, but the rise in crude oil and good economic news from China are providing early support.
Posted 09:01 — December live cattle are up $0.23 to $187.1, November feeder cattle are up $0.33 to $250,775, December lean hogs are up $0.13 to $67,675 , Corn rose 3 cents per bushel in December and soybean meal rose $3.40 in December. The Dow Jones Industrial Average is down 132.95 points. Selling prices for some early southern cash cattle are over $185, but are still difficult to find in the north. There are no bids at this point, but the Packers’ inquiries are expected to improve as the day progresses.
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