Posted at 10:35 a.m. – May corn price is down 7 1/4 cents per bushel, May soybean price is down 9 3/4 cents per bushel. May KC wheat fell 14 1/2 cents per bushel, May Chicago wheat fell 5 3/4 cents per bushel and May Minneapolis wheat fell 10 1/4 cents. The Dow Jones Industrial Average fell 240.78 points to 39,566.59, the U.S. dollar index rose 0.530 to 105.01 and May crude oil rose $1.10 a barrel to $84.27. Mid-morning, corn and wheat markets are under heavy selling pressure as soybeans and soymeal give up early gains and trade significantly lower. Bean oil is the only exception. Going into the week, there is very little news to drive markets other than expected good moisture in the Plains and Midwest ahead of planting. Minneapolis wheat has hit a new contract low after spring wheat planting intentions came in higher than expected.
Posted at 8:35 a.m. – May corn price is down 5 1/4 cents per bushel, May soybean price is up 4 cents per bushel. May KC wheat fell 17 3/4 cents per bushel, May Chicago wheat fell 9 cents per bushel and May Minneapolis wheat fell 11 1/2 cents. The Dow Jones Industrial Average fell 28.26 points to 39,779.11, the U.S. dollar index rose 0.160 to 104.65 and May crude oil rose $0.04 a barrel to $83.21. Due to weak trade as much of Europe is on holiday, corn and wheat are under pressure, while soybeans and bean oil are off to a good start. Corn is correcting slightly after rising sharply with solid gains following the significant reduction in corn planting intentions in the USDA report. The global vegetable oil markets are entering the new week with great confidence.
Posted Sunday evening at 7:06 pm – At the market open Sunday evening, the price of corn is down 1 3/4 cents per bushel, the price of May soybeans is up 3 1/4 cents per bushel. May KC wheat is down 1/2 cent per bushel, May Chicago wheat is down 2 cents per bushel and May Minneapolis wheat is down 1 1/4 cents. The Dow Jones Industrial Average rose 47.29 points to 39,807.37 and the US dollar index fell 0.010 to 104.48 and May crude oil rose $0.02 a barrel to $83.19. Some rain fell in the northern two-thirds of Brazil over the weekend, while southern areas remain too dry. Russia continues to attack Ukrainian shipping ports and knock out electricity in Odessa. Traders are still in disbelief over the shockingly low seeding number and lower corn inventories in Thursday's USDA report. The funds remain net short on over 90,000 Chicago wheat contracts and over 250,000 corn contracts as of last Tuesday.
Posted at 11:40 a.m. – June live cattle are down $0.28 to $179,975, May feeder cattle are up $1.40 to $250.1, June lean hogs are up $2.63 to $104,075 increased, May corn was down 6 1/4 cents per bushel and May soybean meal was down $5.00. The Dow Jones Industrial Average is down 254.95 points. Last week's negotiated cash trade totaled 63,695 animals. Of these, 80% (51,005 animals) were intended for local delivery, while the remaining 20% (12,690 animals) were intended for delayed delivery.
Posted 08:37 — June live cattle are down $1.50 to $178.75, May feeder cattle are down $1.50 to $247.2, June lean hogs are down $1.23 to 100,225 $ down, May corn down 5 1/4 cents per bushel and May soybean meal down $1.70. The Dow Jones Industrial Average fell 12.09 points. Pressure appears to be the theme of the cattle complex after the Easter long weekend. All three markets are trading lower as technical pressures are evident and it is still too early for the market to see significant fundamental support.
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