Posted at 10:36 a.m. – December corn is down 2 cents per bushel, January soybeans are down 21 3/4 cents per bushel. In March, KC wheat fell 12 1/4 cents per bushel, in March, Chicago wheat fell 6 1/2 cents per bushel, and in March, Minneapolis wheat fell 7 1/2 cents. The Dow Jones Industrial Average rose 87.82 points to 35,360.85 and the US dollar index fell 0.470 to 103.45 and crude oil fell $0.20 a barrel to $76.90 in January. Soybeans and bean oil are weakening, while other grain and soy markets are also falling. Another new contract low was reached for both KC and Minneapolis wheat. The next solid support for January beans is again in the $13.25 area, which is in line with the 50-day moving average, and then trendline support is a penny lower.
Posted 08:39 – December corn is down 1/4 cent per bushel, January soybeans are down 4 3/4 cents per bushel. March KC wheat is down 6 cents per bushel, March Chicago wheat is down 4 1/2 cents per bushel and March Minneapolis wheat is down 2 1/4 cents. The Dow Jones Industrial Average rose 37.95 points to 35,310.98, the US dollar index fell 0.370 to 103.55 and crude oil fell $0.90 a barrel to $76.20 in January. The USDA reported two new soybean sales for 2023-24: sales of 129,000 tons, or 4.7 tons, to China and another 323,400 tons, or 11.9 million tons, to unknown destinations. Grain and soy markets start weaker on Friday, with the exception of soybean meal.
Posted at 10:50 a.m. – On Friday morning, sellers are taking advantage of post-holiday trading to significantly reduce livestock prices. February cattle were down $4.03 to $171.25 and January feeder cattle were down $6.73 to $220.40. Cash cattle trading was a dollar lower for most of this week and packaged beef prices were mixed – with no obvious signs of panic appearing. February lean hogs fell $2.78 to $69.05. March corn is down 2 3/4 cents and January soybean meal is down $0.70. Dow Jones futures rose 74 points. Quotations for all agricultural futures are lower despite the US dollar index falling by 0.46 and the stock market showing no signs of stress.
Posted at 8:38 a.m. – February cattle fell $1.25 to $174.02 and January feeder cattle fell $1.82 to $225.30 due to lower cash trading on Wednesday is. Dow Jones estimates cattle slaughter at 119,000 on Friday, up from 116,000 last week. Beef export sales totaled 10,000 tonnes, with China being the main buyer. February lean hogs fell $1.10 to $70.73, with 469,000 head expected to be slaughtered on Friday, down from 482,000 last week. The USDA reported pork export sales of 26,300 tons last week, with Mexico and Japan listed as top buyers. March corn is up 1/4 cent and January soybean meal is down $2.00. Jones futures are up 47 points.
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