Posted at 10:47 a.m. – As of midday Tuesday, corn prices are up 1/2 cent and are finding quiet support in the same trading range. May soybeans fell 7 cents and May soybean oil fell half a cent after NOPA estimated higher soybean oil inventories following a record decline in March. May KC wheat prices rose 2 cents after Kansas didn't receive much rain from the recent storm. Minneapolis wheat rose 3 1/2 cents in May. Crude oil rose $0.20 in June and Dow Jones futures rose 92 points. The US Dollar Index is up 0.10 and gold is up $18.80 in June. According to RTTNews.com, the International Monetary Fund estimates global GDP growth at 3.2% in 2024 with slightly lower global inflation.
Posted at 8:40 a.m. – After the bell on Tuesday at 8:30 a.m. CDT, the corn price for corn was down 2 cents and the May soybean price was down 3 cents. Rain has fallen in the northwest Plains overnight and will slowly move east over the next two days. May KC wheat was down 1 1/4 cents and May Minneapolis wheat was up 1 3/4 cents. Windy conditions will prevail in the southwestern Plains on Tuesday and there will not be much rain over Kansas. Crude oil rose $0.04 in June and Dow Jones futures rose 188 points. The U.S. dollar index is up 0.03 and remains elevated, with traders showing concerns about possible retaliation from Israel that would lead to an escalation in fighting in the Middle East. Gold prices in June rose by $9.80.
Posted at 11:38 a.m. – June live cattle are up $1.78 to $175.6, May feeder cattle are up $3.08 to $241,075, June lean hogs are up $0.18 to $102,625 increased, corn is stable in May and soybean meal is stable in May. The Dow Jones Industrial Average rose 167.86 points. With the entire livestock complex trading higher into the midday hour of Tuesday, the newly established technical support aircraft appear to be holding firm. Asking prices are $184 in the south, but have yet to be determined in the north. Trading is expected to be delayed until Thursday or Friday this week.
Posted 8:36 a.m. – June live cattle are down $0.10 to $173,725, May feeder cattle are up $0.08 to $238,075, June lean hogs are up $0.28 to $102,725, in May corn was down 2 1/4 cents per bushel and May soybean meal was up $0.30. The Dow Jones Industrial Average rose 235.01 points. After Monday's strong close, livestock contracts are mixed heading into Tuesday. In the south, asking prices are over $184, but in the north they are not yet set. Trading is expected to be delayed until Thursday or Friday this week.
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