Posted at 10:34 a.m. – December corn is up 8 1/2 cents per bushel, January soybeans are up 30 cents per bushel. December KC wheat is down 3 cents per bushel, December Chicago wheat is up 3/4 cent per bushel and December Minneapolis wheat is stable. The Dow Jones Industrial Average rose 40.06 points to 34,323.16 and the US dollar index fell 0.190 to 105.67 and December crude oil rose $0.94 a barrel to $78.11. Soybeans, soymeal and corn are booming, while wheat has largely recovered from early weakness. Soybean oil and KC wheat remain the only two in the red. Strong demand for soybeans and corn from the USA as well as the positive weather in Brazil are driving growth.
Posted at 8:35 a.m. – December corn is down 3/4 cents per bushel, January soybeans are up 10 3/4 cents per bushel. December KC wheat is down 1 3/4 cents per bushel, December Chicago wheat is down 2 cents per bushel and December Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average fell 44.76 points to 34,238.34 and the U.S. dollar index rose 0.010 to 105.87 and December crude oil rose $0.17 a barrel to $77.34. The USDA announced two new sales for 2023-24: 204,000 metric tons (7.5 million metric tons) of soybeans to China and 143,637 metric tons (5.65 million metric tons) of corn to Mexico. Soybeans and soymeal extended gains while corn and wheat remained lower after December corn hit a new contract low early Monday.
Posted Sunday at 7:06 pm – After opening time Sunday evening, December corn is down 1 cent and January soybeans are up 4 1/4 cents after a beautiful harvest weekend. Heavy rains are again forecast for southern Brazil this week, posing an ongoing threat to crop conditions in the region. Meanwhile, the forecast for central and northeastern Brazil remains largely dry over the next seven days, with better chances during Thanksgiving week. December KC wheat is down 3/4 cent and December Minneapolis wheat is down 1 1/4 cent. New winter wheat regions will be mostly dry this week, but have better rain chances next week. December crude oil prices fell $0.43 and Dow Jones futures fell 85 points. The US Dollar Index is down 0.05 and gold is up $6.40 in December. According to CNBC.com, Moody’s left its U.S. credit rating at AAA but cut its outlook to negative from stable.
Posted at 11:40 a.m. – December live cattle are up $1.15 to $175,325, January feeder cattle are up $1.80 to $228,225, December lean hogs are up $1.53 to $73,425, corn is up 11 cents per bushel in December and soybean meal is up $25.00 in December. The Dow Jones Industrial Average rose 102.67 points. Bids and asking prices for cash cattle have yet to be determined. New show listings appear to be lower in Kansas and Texas but higher in Nebraska/Colorado. Beef cuts are mixed at lunchtime (selection 299.98 -0.48, selection 269.16 +1.74) with light boxing agitation (18 lds selected cuts, 17 lds selected cuts, 04 lds trim and 08 lds ground), with a selection/ Choose a spread of 30.82. 125,000 cattle are expected to be slaughtered on Monday. Lunch pork cuts are 88.46, -0.96, with 142.07 total loads. 485,000 pigs are expected to be slaughtered on Monday.
Posted 8:38 a.m. — December live cattle are down $0.13 to $174.05, January feeder cattle are down $0.90 to $225,525, December lean pork is down $0.35 to 72, Up $25, corn up 1/2 cent per bushel in December and soybean meal up $9.50 in December. The Dow Jones Industrial Average is down 67.94 points. Compared to the previous Friday (03.11.23), the contracts for live and feed cattle were concluded significantly lower last Friday (10.11.23) (Live: December from 9.70 a.m., February from 10.58 a.m.. Feed animals: November from 10.88 a.m., Jan. from 1:33 p.m.). Cash cattle trade was also down last week, with southern live deals mostly at $180 to $181, down $4 to $5, while northern dressing sales were mostly at $285 to $287, i.e. $5 to $7 below the weighted averages of the previous week. Bids and asking prices have yet to be determined this week and significant trading volume is likely to be delayed until the second half of the week.
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