Posted at 10:38 a.m. – As of mid-morning Monday, March corn prices were down 3 3/4 cents and January soybeans were up 3 3/4 cents. Last week's corn inspections totaled 37.3 million bushels and soybean inspections totaled 51.9 million bushels, both good signs of movement despite new concerns about shipping through the Red Sea. March KC wheat was down 3 1/4 cents and March Minneapolis wheat was down 2 3/4 cents. Numerous sources report that Saudi Arabia purchased 49.7 million bushels of wheat from optional sources. Crude oil rose $1.84 in January and Dow Jones futures rose 90 points. The US Dollar Index fell by 0.03 and February gold prices rose by $1.50.
Posted 08:37 — March corn is down 1 1/4 cents per bushel, January soybeans are up 1 1/4 cents per bushel. March KC wheat is down 12 1/4 cents per bushel, March Chicago wheat is down 7 1/4 cents per bushel and March Minneapolis wheat is down 8 3/4 cents. The Dow Jones Industrial Average rose 27.72 points to 37,332.88, the U.S. dollar index fell 0.100 to 102.45 and crude oil rose $2.43 a barrel to $73.86 in January. Wheat starts the new week under strong selling pressure, while corn and beans are mixed to reduce the chance of rain in Brazil's driest regions. Trading is expected to be subdued for most of the week leading up to Christmas, but volatility could be high.
Posted Sunday, December 17 at 7:05 pm – After the Sunday evening open, March corn is down 3/4 cent and January soybeans are up 2 1/4 cent. After a period of dry weather, rain is expected to return to central and northeastern Brazil starting Tuesday and continuing into January, resulting in a declining DTN weather factor for soybeans. There was heavy rain in southern Argentina over the weekend, and the next weekend there was even more rain in northern Argentina. March KC wheat was down 1 1/2 cents and March Minneapolis wheat was down 1 3/4 cents. Crude oil rose $0.47 in January and Dow Jones futures rose 57 points. The US Dollar Index rose by 0.02 and February gold prices fell by $1.40.
Posted at 11:28 a.m. – February live cattle are up $0.88 to $170,225, January feeder cattle are up $3.60 to $224.5, February lean hogs are up $0.65 to 71, Down $25, March corn was down 4 cents a bushel and January soybean meal was up $6.90. The Dow Jones Industrial Average rose 57.70 points. On Monday morning everything is quiet in Rinderland, bids and offer prices have not yet been determined; Significant trading volume is likely to be delayed until later in the week. New show listings seem to be mixed, lower in Kansas and Texas, but lower in Nebraska/Colorado. Beef cuts are mixed at lunchtime (Select $289.08 – $2.56, Select $263.29 + $2.47) with light to moderate box agitation (39 loads of choice cuts, 14 loads of select cuts, 00 loads of trim and 03 loads of ground). ), with a pick/select spread of $25.79. 125,000 cattle are expected to be slaughtered on Monday. Lunch pork cuts are $86.86, +$2.53, with 144,922 total loads. 485,000 pigs are expected to be slaughtered on Monday.
Posted 08:47 — February live cattle increased $1.48 to $170,825, January feeder cattle increased $3.18 to $224,075, February lean hogs decreased $0.80 to $71.1 , in March corn was down 2 1/2 cents per bushel and in January soybean meal was down $1.30. The Dow Jones Industrial Average rose 46.07 points. Last week, Northern's dressed deals were in the full range of $264 to $268, primarily $267 to $268, $2 to $3 lower than the previous week's weighted average based on Nebraska. Live trade in the South was trading mostly at $170 Friday afternoon, about $1 less than the previous week's weighted average. It will be interesting to see what the actual trading volume is when the summary reports are released a little later on Monday morning. The February Lean Hog contract closed at $71,900 on Friday, up $2.93 from the previous Friday's close. The forecast CME Lean Hog Index for December 14 fell $0.60 to $67.15.
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