Posted at 10:35 a.m. – December corn is up 1 1/2 cents per bushel, January soybeans are down 7 1/4 cents per bushel. March KC wheat is down 1/2 cent per bushel, March Chicago wheat is up 2 cents per bushel and March Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average rose 171.30 points to 35,259.59 and the US dollar index rose 0.520 to 104.08 and crude oil fell $3.04 a barrel to $74.73 in January. In very quiet trading, corn is slightly higher, wheat is mixed and soybeans and bean oil are lower and soymeal is higher. Ahead of Thursday's Thanksgiving holiday, there is little new news to drive markets.
Posted 08:33 – December corn is up 1 3/4 cents per bushel, January soybeans are down 6 1/2 cents per bushel. March KC wheat is up 2 3/4 cents per bushel, March Chicago wheat is up 4 1/4 cents per bushel and March Minneapolis wheat is up 2 1/4 cents. The Dow Jones Industrial Average rose 113.08 points to 35,201.37 and the US dollar index rose 0.390 to 103.96 and crude oil fell $3.56 a barrel to $74.21 in January. The USDA announced two new export sales for 2023-24: sales of 110,000 metric tons (4 million metric tons) of soft red winter wheat to China and 128,000 metric tons (5 million metric tons) of corn to undisclosed destinations. Corn and wheat are higher while soybeans and bean oil start lower.
Posted at 11:33 a.m. – As of mid-morning Wednesday, the February cattle price is steady at $176.08 and the January feeder cattle price is up $0.20 to $228.53. As of Wednesday morning, boxed select beef prices rose $1.17 to $296.98, while boxed select beef prices fell $1.78 to $266.99 for a total of 114 loads. Kansas, Texas and Nebraska are reporting cash trading near $177 on Wednesday, with Nebraska also reporting $280, down about a dollar from the week. February lean hogs fell $0.53 to $71.80. The USDA reported a $1.88 increase in pork cuts to $87.09 on 196.35 loads, helped by a $14.78 increase in picnics. March corn is down 1/4 cent and January soybean meal is down $3.20. Dow Jones futures rose 161 points.
Posted 09:03 — February cattle were down $0.53 to $175.55 and January feeder cattle were down $1.33 to $227.00, still under pressure from recent increases in the number of feedstuffs. February lean hogs increased $0.13 to $72.45. Slaughter numbers are expected to be lower on the Wednesday before Thanksgiving. Cattle slaughter is estimated at 123,000 and pig slaughter at 455,000. March corn is up 2 3/4 cents and January soybean meal is up $1.60. Dow Jones futures rose 96 points.
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