(Illustration by Nick Scalise)
OMAHA (DTN) – March corn rose 3 3/4 cents a bushel, March soybeans rose 3 1/4 cents a bushel. March KC wheat is up 17 1/2 cents per bushel, March Chicago wheat is up 14 1/2 cents per bushel and March Minneapolis wheat is up 10 3/4 cents. The Dow Jones Industrial Average fell 224.05 points to 37,458.96 and the U.S. dollar index rose 0.320 to 102.53 and crude oil rose $1.75 a barrel to $72.52 in February. All markets have stabilized on Tuesday morning, with soybean meal being the only one still in the red. The wheat markets are booming, especially Kansas City. Freezing subzero temperatures are heading towards the Wheatbelt next week, but in the meantime heavy snow and rain will continue to move east.
Posted at 8:33 a.m. – March corn down 1 1/2 cents per bushel, March soybeans down 4 1/4 cents per bushel. March KC wheat is up 4 1/4 cents per bushel, March Chicago wheat is up 4 1/4 cents per bushel and March Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average fell 256.65 points to 37,426.36, the U.S. dollar index rose 0.140 to 102.35 and crude oil rose $1.12 a barrel to $71.89 in February. Wheat and bean oil are slightly firmer while other markets are lower to start a quiet trade. There is little news other than the persistent rain in Brazil and the major storm that swept across the U.S. on Tuesday and Wednesday, bringing soothing moisture to the corn and wheat belts.
Posted 08:42 – February live cattle are up $0.28 to $170,225, March feeder cattle are up $0.03 to $225.1, February lean hogs are up $0.08 to $70,675, corn is down 1 1/4 cents per bushel in March and soybean meal is down $3.30 in March. The Dow Jones Industrial Average is down 224.60 points. All is quiet in the ranching area Tuesday morning as many are busy digging out from the severe winter storms. Bids and offer prices have not yet been determined. Significant trading volume is likely to be delayed until later in the week. The forecast CME Lean Hog Index for January 5 fell $0.11 to $65.74.
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