Posted at 10:33 a.m. – March corn is down 6 cents per bushel, January soybeans are down 17 1/4 cents per bushel. March KC wheat is down 24 1/4 cents per bushel, March Chicago wheat is down 17 1/2 cents per bushel and March Minneapolis wheat is down 13 3/4 cents. The Dow Jones Industrial Average rose 21.77 points to 36,599.71, the US dollar index fell 0.020 points to 103.85 and crude oil rose $0.61 a barrel to $69.22 in January . Red quotes continue to dominate grain and soy futures markets, with soybeans, soymeal and KC wheat accelerating declines. There doesn't seem to be much new news to drive the markets. The new Argentine government is trying to improve the disastrous economy there by first devaluing the peso. No decision has yet been made on reducing export tax on agricultural products, which has been widely rumored.
Posted 08:34 — March corn is down 6 cents per bushel, January soybeans are down 14 1/4 cents per bushel. In March, KC wheat fell 15 1/4 cents per bushel, in March, Chicago wheat fell 13 1/2 cents per bushel, and in March, Minneapolis wheat fell 12 1/2 cents. The Dow Jones Industrial Average fell 15.02 points to 36,562.92, the U.S. dollar index fell 0.080 to 103.79 and crude oil rose $0.24 a barrel to $68.85 in January. The USDA announced a new soybean sale for the 2024-25 marketing year: sales of 125,000 metric tons (4.6 million metric tons) of soybeans to undisclosed destinations. Corn, soybeans, soymeal and wheat all melt off early Wednesday, with KC wheat and soybeans leading the weakness. Given the lack of news, it appears that the favorable outlook for Brazil is weighing on corn and soy.
Posted at 11:39 a.m. – February live cattle decreased $0.73 to $167,875, January feeder cattle decreased $1.73 to $217,525, February lean hogs decreased $0.68 to $67,575, in March corn was down 5 3/4 cents per bushel and in January soybean meal was down $6.80. The Dow Jones Industrial Average rose 9.20 points. In parts of Nebraska there are some bids at $168 live and $267 pre-order, still a few dollars below the current asking prices of $170/$270. Beef cuts are mixed at lunchtime (selection 292.38 -0.40, selection 258.84 +0.18) with moderate box agitation (53 lds selected cuts, 17 lds selected cuts, 12 lds trim and 06 lds ground), with a selection/ Choose a spread of 33.54. 126,000 cattle are expected to be slaughtered on Wednesday. Lunch pork cuts are 84.34, +0.38, with a total load of 196.77. 486,000 pigs are expected to be slaughtered on Wednesday.
Posted 8:36 a.m. — February live cattle are down $0.73 to $167,875, January feeder cattle are down $0.88 to $218,375, February lean hogs are down $1.00 to $67.25 , Corn fell 5 1/2 cents per bushel in March and soybean meal fell $8.80 in January. The Dow Jones Industrial Average fell 18.22 points. An isolated live cattle trade valued at $168 was reported in parts of Nebraska and Iowa on Tuesday, not necessarily enough business to determine an accurate trend for the week. Demand for packers should continue to improve throughout the day. The forecast CME Lean Hog Index for December 11 fell $0.23 to $67.70.
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