(Illustration by Nick Scalise)
OMAHA (DTN) – Row harvests are lower Tuesday morning, due in part to the upcoming weather forecast for central and northeastern Brazil. Grain prices are also suffering from increasing concerns about U.S. grain shipments after U.S. Customs closed two border crossing points for rail crossings into and out of Mexico. March corn is down 4 3/4 cents and March soybean prices are down 17 cents. March KC wheat is up 7 3/4 cents and March Minneapolis wheat is up 4 1/4 cents, finding slight support near their lowest levels of the year. The price of crude oil in February rose by $1.23, which still indicates that there is concern about the ability of oil to be transported through the Red Sea. Dow Jones futures are up 223 points, the US dollar index is down 0.47 and gold is up $18.60 in February.
Posted at 8:33 a.m. – March corn price is down 1 1/4 cents per bushel, January soybean prices are down 12 1/4 cents per bushel. March KC wheat is down 2 1/2 cents per bushel, March Chicago wheat is down 3 3/4 cents per bushel and March Minneapolis wheat is down 1 1/4 cents. The Dow Jones Industrial Average rose 54.31 points to 37,360.33 and the US dollar index fell 0.260 to 102.30 and crude oil rose $0.39 a barrel to $73.21 in February. The USDA announced a new sale of 132,000 mt (4.85 mb) of soybeans to undisclosed destinations for the 2023-24 crop year. The grain and soy markets are trending lower again, led by soybeans. Rainfall is expected to hit some of Brazil's driest areas over the next two weeks, putting pressure on markets.
Posted 8:36 a.m. – February live cattle decreased $0.75 to $168,875, March feeder cattle decreased $0.88 to $223,275, February lean hogs decreased $0.85 to $70,725, in March corn is down 1 1/2 cents per bushel and January soybean meal is down $3.90. The Dow Jones Industrial Average rose 58.58 points. On Tuesday morning the livestock market is very quiet, bids and offer prices have not yet been determined, significant trading volume is likely to be delayed until Wednesday or Thursday. The forecast CME Lean Hog Index for December 15 fell $0.56 to $66.59.
(c) Copyright 2023 DTN, LLC. All rights reserved.
Comments are closed.