(Illustration by Nick Scalise)
OMAH (DTN) – As of Tuesday morning, prices in the grain-related sector are consistently in the red. March corn fell 6 3/4 cents and March soybeans fell 27 1/4 cents due to favorable rain conditions in central Brazil over the weekend. March KC wheat is down 9 1/2 cents and March Minneapolis wheat is down 7 3/4 cents, with a favorable rain forecast for the U.S. winter wheat crop over the next two weeks. February crude oil prices fell $0.90, shedding earlier optimistic concerns about further attacks in the Red Sea over the weekend. Dow Jones futures fell 68 points, the US dollar index rose 0.75 and February gold prices rose $2.40.
Posted at 8:33 a.m. – March corn down 3 1/4 cents per bushel, March soybeans down 13 1/2 cents per bushel. March KC wheat is down 7 1/4 cents per bushel, March Chicago wheat is down 7 cents per bushel and March Minneapolis wheat is down 5 3/4 cents. The Dow Jones Industrial Average fell 137.39 points to 37,552.15 and the US dollar index rose 0.760 to 102.10 and crude oil rose $0.43 a barrel to $72.08 in February. Soybeans and soy products open significantly lower, while wheat and corn are also under pressure heading into the new year. Good rains over the weekend and more in some of Brazil's driest areas are the main reason for the weakness.
Posted at 10:34 a.m. – February live cattle are up $0.90 to $169.4, March feeder cattle are up $1.03 to $224,125, February lean hogs are up $0.53 to 68, Up $5, March corn down 3 1/4 cents per bushel and March soybean meal down $0.70. The Dow Jones Industrial Average is down 133.44 points. All is quiet in cash cattle country this morning as both packers and producers prepare for the week ahead. Significant trading volume is likely to be delayed until Wednesday or Thursday. The forecast CME Lean Hog Index for December 28 fell $0.22 to $65.35.
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