Posted at 10:35 a.m. – December corn is down 1 1/2 cents per bushel, January soybeans are up 10 1/2 cents per bushel. March KC wheat is down 5 1/2 cents per bushel, December Chicago wheat is down 4 1/2 cents per bushel and March Minneapolis wheat is down 6 cents. The Dow Jones Industrial Average rose 91.79 points to 35,039.07, the U.S. dollar index fell 0.420 points to 103.50 and crude oil rose $2.10 a barrel to $78.14 in January . Soybeans and bean oil are very solid, while the rest of the grain and soy complex is lower. Wheat export sales and inspections continued to decline sharply compared to last year. Soybean oil is higher for the eighth time in the last nine days as the fundamental outlook for domestic bean oil consumption remains optimistic.
Posted at 8:33 a.m. – December corn is up 1 3/4 cents per bushel, January soybeans are up 15 cents per bushel. March KC wheat is down 1 cent per bushel, December Chicago wheat is down 3/4 cent per bushel and March Minneapolis wheat is down 2 cents. The Dow Jones Industrial Average rose 3.21 points to 34,950.49 and the U.S. dollar index fell 0.260 to 103.66 and crude oil rose $1.40 a barrel to $77.44 in January. The USDA reported another sale of new corn to Mexico – 104,000 tons, or 4.1 million bushels, sold in 2023-24. Soybeans and bean oil are very stable entering the new week, while wheat markets are under pressure again and KC is down for the fifth day in a row.
Posted on Sunday, November 19th at 7:05 pm CST – After the Sunday evening open, December corn is down 1 3/4 cents and January soybeans are down 11 cents, with rain expected to continue in the western Plains will move east on Monday. The weather forecast for central Brazil is wet this week and heavy rain is expected to return to southern Brazil on Wednesday and Thursday. There is a chance of rain in northern Argentina on Tuesday and Wednesday. December Kansas City wheat is down 2 3/4 cents and December Minneapolis wheat is down 2 1/2 cents. January crude oil prices fell $0.09 and Dow Jones futures fell 5 points. The US Dollar Index is down 0.02 and gold is down $3.80 in December. Javier Milei is the new president of Argentina and is described by Reuters as a libertarian who plans to peg the peso to the US dollar.
Posted at 11:34 am – February live cattle are down $0.53 to $176,275, January feeder cattle are up $0.15 to $228.65, December lean hogs are up $0.78 to 70, Down $2, December corn is down 1 1/4 cents per bushel and December soybean meal is up $1.50. The Dow Jones Industrial Average rose 124.59 points. New show listings seem to be mixed, higher in the South but lower in Nebraska/Colorado. There may be significant trading volume this week due to the upcoming Thanksgiving holiday, but bids and offer prices have yet to be determined. Beef proportions are higher at midday (Selection 296.15 +2.28, Selection 272.41 +1.71) with light to moderate box movement (52 lds selected cuts, 10 lds selected cuts, 00 lds trim and 07 lds ground), with a Selection/choice margin of 23.74. 126,000 cattle are expected to be slaughtered on Monday. The lunch pork cuts are 87.22, -0.94, with a total load of 176.18. 487,000 pigs are expected to be slaughtered on Monday.
Posted 8:45 a.m. – February live cattle are up $1.18 to $177.975, January feeder cattle are up $3.00 to $231.5, December lean hogs are up $0.48 to 71.45 $ increased, December corn was up 1 cent per bushel and December soybean meal was down $4.40. The Dow Jones Industrial Average rose 15.26 points. Cash catering land looks to be a typically quiet Monday as cash cafe trading is expected to come to a virtual standstill. In last week's business, Southern Live deals were $175 to $178, mostly at $178, $2 to $3 below the previous week's weighted averages. Northern dressing traded across the $278 to $285 range, mostly at $282, $4 below the previous week's weighted average in Nebraska. The national average base price for hogs was $1.85 lower, falling to $652.27 Friday morning. The CME Lean Hog Index rose $0.07 to $76.06.
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