(Illustration by Nick Scalise)
Posted at 10:29 a.m. – December corn is down 6 1/4 cents per bushel, January soybeans are down 6 3/4 cents per bushel. In December, KC wheat rose 3/4 cent per bushel, in December, Chicago wheat fell 9 1/2 cent per bushel, and in March, Minneapolis wheat fell 1/2 cent. The Dow Jones Industrial Average rose 121.11 points to 34,948.81, the U.S. dollar index rose 0.140 to 104.19 and December crude oil fell $1.10 a barrel to $77.16. The grain and soy markets are largely down, with soy meal, after hitting another new high, on the cusp of a major turnaround as Jan soy meal is now over $13 below the new high. KC and Minneapolis March wheat futures buck Wednesday’s bearish trend and trade near flat. While the weather in Brazil remains positive for a few days, some rain is expected in the central and northern areas through the weekend.
Posted at 8:35 a.m. – December corn is down 3 cents per bushel, January soybeans are up 2 3/4 cents per bushel. In December, KC wheat rose 1 1/2 cents per bushel, in December, Chicago wheat fell 3/4 cents per bushel, and in March, Minneapolis wheat fell 1 1/4 cents. The Dow Jones Industrial Average rose 139.71 points to 34,967.41, the U.S. dollar index rose 0.240 to 104.30 and December crude oil fell $0.94 a barrel to $77.32. The USDA announced another new corn sale — this time to Japan for 124,000 tons, or 4.9 million bushels, for 2023-24. Meanwhile, soybeans and soy products are up slightly, while wheat is mixed and corn is down. Stock markets are rallying again on the back of the lowest producer price index since 2020 and another pattern that suggests the Federal Reserve may be nearing the end of its rate hike cycle.
OMAHA (DTN) – February live cattle increased $1.55 to $178.425, January feeder cattle increased $1.08 to $230.075, December lean pork increased $0.53 to $71.775, December corn increased 7 cents per bushel and soybean meal in December by $6.20. The Dow Jones Industrial Average rose 149.49 points. Beef cuts are higher at lunch (select $298.28 + $2.61, select $269.29 + $1.41) with light to moderate case movement (39 loads of select cuts, 10 loads of select cuts, 05 loads of trim and 14 loads). floor), with a pick/choice range of $28.99. 126,000 cattle are expected to be slaughtered on Wednesday. There are currently some bids on the table in parts of Nebraska for $282. Asking prices are over $183 in the south and over $285 in the north. Significant trading volume is likely to be delayed for at least another day. Lunch pork cuts are $87.43, -$0.17, with a total load of 194.49. 485,000 pigs are expected to be slaughtered on Wednesday.
Posted 08:42 — February live cattle are down $0.43 to $176.45, January feeder cattle are down $0.88 to $228,125, December lean hogs are down $0.25 to 72.05 $ down, December corn down 1 1/2 cents per bushel and December soybean meal up $1.10. The Dow Jones Industrial Average rose 142.37 points. Cash-catching land is slow to get going again on Wednesday as bids remain very difficult to match. In the south, some live asking prices of $183 were noted. If the price stays higher again on Wednesday, significant trading volume could be delayed until Thursday or later as producers hold firm and wait for more money.
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