Posted at 10:31 a.m. – In mid-morning trading Thursday, December corn is up 3 cents a bushel, November soybeans are down 1 3/4 cents, December KC wheat is down 1 1/2 cents, Chicago- December wheat is up 4 1/2 cents and December Minneapolis wheat is down 1 cent. The Dow Jones Industrial Average fell 36.94 points and crude oil rose $0.07 a barrel in December. The US Dollar Index is down 0.280 and gold is down $0.40 an ounce in December. Corn, Chicago wheat and soymeal prices are expected to remain in positive territory, with soybean prices erasing earlier losses in November. Corn export sales for the week ended Oct. 12 were down compared to the previous week, while export sales for soybeans and wheat were higher, with sales for all three crops in the range of pre-report estimates. The weather forecast for Brazil remains in the spotlight.
Posted 08:35 — December corn is steady, November soybeans are down 2 1/4 cents, December KC wheat is down 2 1/2 cents, December Chicago wheat is down 1/2 cent and Minneapolis wheat in December is down 1/4 cents. The Dow Jones Industrial Average rose 7.89 points and crude oil fell $1.12 a barrel in December. The US Dollar Index is down 0.220 and soybeans are now weakening a bit to trade lower and soybean meal remains slightly higher. Corn is little changed and wheat markets are down with little news impacting the markets. Crude oil futures hit a new daily low. Harvest weather is mostly clear this week.
Posted at 11:46 a.m. — December live cattle are down $1.68 to $185,525, January feeder cattle are down $3.70 to $247.2, December lean pork is down $0.33 to 67 $.7 down, corn up 2 1/2 cents a bushel in December and soybean meal up $3.40 in December. The Dow Jones Industrial Average is down 124.87 points. Beef proportions are lower at midday (selection 301.83 -2.03, selection 276.95 -1.40) with moderate box movement (46 lds select cuts, 24 lds select cuts, 4 lds trim and 12 lds ground). Cash Cather trading remains quiet with few bids on the table at $187 live and $292 unprocessed in parts of Nebraska. So far they’ve been accepted because they’re several dollars below current asking prices of $295 and up in the north and $185 and up in the south. The lunch pork cutout is 88.16 +0.21, with 167.66 LDS.
Posted 08:39 — December live cattle are down $0.40 to $186.8, January feeder cattle are down $1.53 to $249,375, December lean hogs are down $0.83 to 68.85 $ increased, corn is stable in December and soybean meal is stable in December. The Dow Jones Industrial Average is up 17.77. Cattle operations remain very quiet on Thursday morning, but demand from packers is expected to improve as the day progresses. However, it is possible that significant trading volume will be delayed until sometime on Friday. For the period October 6-12, net sales of beef were 400 tons in 2023, a low for the entire marketing year, 95% below the previous week and 97% below the average for the previous four weeks. The three largest buyers were primarily South Korea (2,800 tons); Japan (1,500 mt); and Hong Kong (100 m). Net sales of 30,700 tons of pork in 2023 were an increase of 46% from the previous week and 10% from the previous four-week average. The three largest buyers were primarily Mexico (9,100 tons), Japan (6,200 tons) and South Korea (4,000 tons).
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