Posted at 10:35 a.m. – May corn is up 3 1/2 cents per bushel, May soybeans are down 7 cents per bushel. In July, KC wheat rose 13 1/4 cents per bushel, in May, Chicago wheat rose 4 cents per bushel, and in May, Minneapolis wheat rose 8 3/4 cents. The Dow Jones Industrial Average fell 453.86 points to 38,429.81, the U.S. dollar index rose 1.010 to 105.16 and May crude oil fell $0.17 a barrel to $85.06. The soy complex is under strong pressure mid-morning, while wheat remains significantly higher and corn remains firmer. The U.S. dollar index rose to its highest level since November after inflation was higher than economists expected, and stocks fell sharply as the prospect of a Federal Reserve rate cut worsened amid still-high inflation.
Posted at 8:46 a.m. – May corn price is up 1 3/4 cents per bushel, May soybean price is down 1 cent per bushel. In July, KC wheat rose 11 cents per bushel, in May, Chicago wheat rose 4 1/4 cents per bushel, and in May, Minneapolis wheat rose 8 cents. The Dow Jones Industrial Average fell 485.06 points to 38,398.61 and the US dollar index rose 0.760 to 104.91 and May crude oil rose $0.37 a barrel to $85.60. The USDA announced a new sale of new crop soybeans: 254,000 mt (9.3 million mb) of soybeans were sold to an unknown destination for the period 2024-25. Corn, wheat and bean oil markets are higher, while soybean and soymeal markets are slightly lower. Some pressure is coming from external markets with the US dollar index rising sharply and stocks under heavy pressure after CPI inflation numbers came in higher than expected.
Posted at 11:44 am – June live cattle are down $0.60 to $174.25, May feeder cattle are down $1.25 to $238.2, June lean hogs are up $3.33 Down $105.25, May corn is up 2 3/4 cents per bushel and May soybean meal is down $1.50. The Dow Jones Industrial Average is down 484.97 points. The announcement of a 3.5% rise in the consumer price index in March has resulted in the livestock market trading worse. There has still been no cash catering trade developed and trading is likely to be delayed until Thursday or later.
Posted 08:44 — Live cattle are up $0.05 in June at $174.9, feeder cattle are down $0.25 in May at $239.2, lean hogs are up $0.50 in June at 109,075 $ increased, corn was up 2 1/4 cents per bushel and soybean meal was down $1.40 in May. The Dow Jones Industrial Average is down 436.76 points. Livestock inventory is mixed as feed trades lower while lean hog and live cattle markets are higher. There has still been no cash catering trade developed and it looks like trading will be delayed until Thursday or Friday.
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