Posted at 10:35 a.m. – March corn is up 5 3/4 cents per bushel, January soybeans are down 6 1/2 cents per bushel. In March, KC wheat rose 28 1/4 cents per bushel, in March, Chicago wheat rose 17 3/4 cents per bushel, and in March, Minneapolis wheat rose 20 1/4 cents. The Dow Jones Industrial Average rose 109.29 points to 36,514.22, the U.S. dollar index fell 0.180 to 103.92 and crude oil fell $2.51 a barrel to $68.81 in January. On Tuesday morning, the Kansas City wheat market is booming, with the other two wheat markets following suit. March corn has risen above the 50-day average again. Soybeans and soybean oil remain sharply lower, with the latter likely reacting to the more than $2.50 per barrel drop in crude oil prices.
Posted 08:33 – March corn is up 3 cents per bushel, January soybeans are down 6 1/2 cents per bushel. In March, KC wheat was up 10 1/2 cents per bushel, in March, Chicago wheat was up 7 1/4 cents per bushel, and in March, Minneapolis wheat was up 7 1/2 cents. The Dow Jones Industrial Average rose 21.71 points to 36,426.64, the U.S. dollar index fell 0.120 to 103.98 and crude oil fell $2.07 a barrel to $69.25 in January. The USDA announced another new soybean sale for 2023-24: 198,000 mt or 7.3 mb were sold to unknown destinations. Soybeans and bean oil are under early pressure, impacted by the sharp decline in crude oil futures to nearly $69 a barrel. Wheat is rising due to a correction of recent weakness.
Posted at 11:40 a.m. – February live cattle are up $1.13 to $169,025, January feeder cattle are up $1.40 to $219.35, February lean hogs are up $0.88 to 68, Up $2, March corn was up 4 cents a bushel and January soybean meal was down $4.50. The Dow Jones Industrial Average rose 151.10 points. All remains quiet in cash-catching land, with significant trading volume likely to be delayed until Wednesday or later. Beef cuts are mixed at noon (selection 293.11 +2.68, selection 258.73 -0.81) with light to moderate box agitation (38 lds select cuts, 12 lds select cuts, 00 lds trim and 10 lds ground), with a Selection/selection margin of 34.38. 126,000 cattle are expected to be slaughtered on Tuesday. Lunch pork cuts are 85.65, -0.97, with a total load of 194.68. 477,000 pigs are expected to be slaughtered on Tuesday.
Posted 08:39 — February live cattle are down $1.08 to $166,825, January feeder cattle are down $1.70 to $216.25, February lean hogs are down $0.35 to $66,975, Corn rose 3 1/4 cents a bushel in March and soybean meal rose $2.20 in January. The Dow Jones Industrial Average fell 4.68 points. It will likely be another quiet day in cash cather land as bids and asking prices are not yet set. Significant trading volume is likely to be delayed until later in the week as producers look to change prices this week. The forecast CME Lean Hog Index for December 8 fell $0.83 to $67.93.
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