Posted at 10:39 a.m. – December corn is up 2 cents per bushel, January soybeans are down 23 1/2 cents per bushel. December KC wheat is down 3 1/2 cents per bushel, December Chicago wheat is down 6 1/4 cents per bushel and March Minneapolis wheat is down 1/4 cent. The Dow Jones Industrial Average fell 157.03 points to 34,834.18, the U.S. dollar index fell 0.050 to 104.35 and December crude oil fell $3.27 a barrel to $73.39. By mid-morning Thursday, corn recovered to trade a penny higher, while soybeans and soybean meal remained sharply lower. Kansas City March wheat hit a new low before recovering somewhat. Despite some impressive export sales figures, a weather-related pattern change in central and southern Brazil appears to be the bearish influence on Thursday.
Posted 08:34 – December corn is down 1 1/4 cents per bushel, January soybeans are down 10 1/2 cents per bushel. In December, KC wheat fell 1 3/4 cents per bushel, in December, Chicago wheat fell 4 1/4 cents per bushel, and in March, Minneapolis wheat fell 1 1/2 cents. The Dow Jones Industrial Average fell 96.79 points to 34,894.42, the U.S. dollar index fell 0.100 to 104.29 and crude oil fell $2.34 a barrel to $74.32 in December. The USDA announced a new sale of 220,000 metric tons (8 million metric tons) of soybeans to undisclosed destinations for 2023-24. The grain and soy markets fall simultaneously on Thursday. Impending rain in dry central and northern Brazil appears to be the trigger for weakness in corn and soy, while wheat sales remain dismal.
Posted at 11:39 a.m. – February live cattle decreased $2.75 to $176,025, January feeder cattle decreased $3.58 to $227,325, December lean hogs decreased $0.23 to $70,825, in December, corn was up 4 cents per bushel and soybean meal was down $8.00 in December. The Dow Jones Industrial Average is down 108.25 points. In parts of Kansas and Texas, a light live stock trade is reported at $178, which is $2 to $3 less than last week’s weighted average. Wednesday saw light to moderate clothing trading at mostly $282, down $4 from last week’s weighted average. Beef cuts are mixed at lunchtime (selection 294.89 -1.44, selection 268.78 +0.93) with light boxing agitation (25 lds selected cuts, 13 lds selected cuts, 00 lds trim and 09 lds ground), with a selection/ Selection range from November 26th 125,000 cattle are expected to be slaughtered on Thursday. Lunch pork cuts are 85.79, -1.03, with a total load of 156.73. 486,000 pigs are expected to be slaughtered on Thursday.
Posted 8:40 a.m. – February live cattle are down $0.85 to $177,925, January feeder cattle prices are down $1.15 to $229.75, December lean hogs are down $0.55 to 70, Down $5, December corn down 1 3/4 cents per bushel and December soybean meal down $5.10. The Dow Jones Industrial Average is down 65.80 points. Light trading was reported Wednesday in the North, mostly at $282, $4 below last week’s weighted average based on Nebraska. The South may hold firm and hope for bigger money, but it could change its mind if the board changes or it gets spooked by what could come Friday, in the feed report. For the period November 3-9, net sales of beef were 8,900 tonnes, down 35% from the previous week and 27% from the previous four-week average. There were increases primarily in South Korea (2,900 tons), Mexico (1,700 tons) and China (1,300 tons). Net pork sales were 24,300 tons, down 51% from the previous week and 30% compared to the previous four-week average. There were increases primarily in Mexico (8,500 tons), Japan (5,400 tons) and South Korea (2,100 tons).
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