Posted 08:33 — March corn is down 1/2 cent per bushel, January soybeans are down 4 cents per bushel. March KC wheat is down 1/2 cent per bushel, March Chicago wheat is up 10 1/4 cents per bushel and March Minneapolis wheat is down 4 cents. The Dow Jones Industrial Average fell 130.37 points to 36,115.13, the U.S. dollar index rose 0.470 to 103.74 and crude oil fell $0.61 a barrel to $73.46 in January. The USDA announced three new export sales: sales of 440,000 metric tons (16.1 metric tons) of common red wheat to China, sales of 267,400 metric tons (10.5 metric tons) of corn to unknown destinations, and sales of 183,000 metric tons (6.7 million metric tons) of soybean meal to the Philippines – all for 2023-24. Chicago wheat reacts to SRW's new sales, with managed money funds still underpaying 124,000 Chicago wheat contracts as of November 28.
Posted Sunday, December 3rd at 7:04 pm CST – After opening time Sunday evening, March corn is down 1 cent and January soybeans are down 7 1/4 cents. Central and southern Brazil saw more rain over the weekend, as did Argentina, where more rain is expected this week. March KC wheat is up 1/4 cent and March Minneapolis wheat is up 1 cent. Crude oil rose $0.45 in January and Dow Jones futures fell 3 points. The US Dollar Index is up 0.01 and gold is up $23.60 in February and is trading at a new all-time high on Sunday evening as more sources begin to talk about the possibility of lower interest rates in 2024. Another issue triggering gold buying is the scramble for China's major real estate developer Evergrande to find a restructuring deal that would allow the company to avoid judicial liquidation.
Posted at 11:46 a.m. – February live cattle are down $1.43 to $167.7, January feeder cattle are down $3.13 to $211.3, February lean hogs are up $0.60 Up $70.7, March corn was up 1/2 cent per bushel and January soybean meal was down $2.30. The Dow Jones Industrial Average is down 101.30 points. At lunchtime it is quiet in the country. New show lists appear to be a mixed bag, larger in Kansas and Nebraska/Colorado, but lower in Texas. Beef proportions are lower at midday (Selection 295.64 -1.82, Selection 263.86 -1.63) with light to moderate box movement (39 lds selected cuts, 15 lds selected cuts, 13 lds trim and 14 lds ground), with a Selection/choice margin of 31.78. 124,000 cattle are expected to be slaughtered on Monday. Lunch pork cuts are 84.91, +1.36, with a total load of 155.21. 485,000 pigs are expected to be slaughtered on Monday.
Posted 8:38 a.m. – February live cattle are down $1.80 to $167,325, January feeder cattle are down $3.68 to $210.75, February lean hogs are down $0.20 to 69.9 $ decreased, in March corn was down 1 1/2 cents per bushel and in January soybean meal was down $0.00. The Dow Jones Industrial Average is down 111.00 points. This Monday morning seems to be a typically quiet start to the week in cash cattle land. Bids and asking prices have yet to be determined and significant trading volume is likely to be delayed until the second half of the week. The forecast CME Lean Hog Index for November 30 fell $0.77 to $70.58.
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