Posted at 10:34 a.m. – March corn is down 3 1/4 cents per bushel, March soybeans are down 1/4 cent per bushel. In March, KC wheat fell 13 1/2 cents per bushel, in March, Chicago wheat fell 17 1/4 cents per bushel, and in March, Minneapolis wheat fell 8 cents. The Dow Jones Industrial Average fell 166.51 points to 37,426.47 and the US dollar index rose 0.760 to 103.17 and crude oil fell $0.37 a barrel to $72.31 in February. In the morning, the corn and wheat markets weakened further. Soybeans gave up early morning gains and are trading lower, while soybean meal is the only agricultural market up on the day. Wheat markets are down for the third day in a row and Minneapolis March has hit a new contract low. There were delays in grain inspection due to technical difficulties.
Posted 08:35 – March corn down 3 cents per bushel, March soybeans up 6 1/4 cents per bushel. March KC wheat is down 1 1/4 cents per bushel, March Chicago wheat is down 3 1/2 cents per bushel and March Minneapolis wheat is down 1 3/4 cents. The Dow Jones Industrial Average fell 73.03 points to 37,519.95 and the U.S. dollar index rose 0.730 to 103.14 and crude oil fell $0.03 a barrel to $72.65 in February. The USDA announced a new sale of 127,600 mt (5 mb) of corn to Mexico for delivery in 2023-24. Soybeans and soymeal are higher to start the new week on some positive chart signals, while corn is slipping again following Friday's bearish WASDE report.
Posted Monday at 7:08 pm – After opening Monday evening, crop prices are mixed to higher, setting up another bone-chilling night for people and wildlife with subzero temperatures in the single digits as far south as Kansas and Missouri in the Texas Panhandle. March corn is up 1 3/4 cents and March soybeans are up 6 cents. Central Brazil expects lower rainfall amounts and hotter weather over the next five to six days before better rainfall returns. Kansas City wheat rose 3/4 cents in March and Minneapolis wheat fell 1 3/4 cents in March. February crude oil prices are relatively calm, trading around 18 cents a barrel, after numerous sources reported that a missile fired by Houthis hit a US merchant ship in the Red Sea near Yemen on Monday. The US and Britain continue to attack military targets in Yemen, while commercial shipping traffic through the Red Sea has declined significantly. Dow Jones futures fell 111 points, the US dollar index rose 0.42 and February gold prices rose $3.20.
Posted at 11:36 a.m. – February live cattle are up $1.43 to $172.8, March feeder cattle are up $0.80 to $228.5, February lean hogs are up $1.58 Down $70,325, March corn down 3 3/4 cents per bushel and March soybean meal up $5.10. The Dow Jones Industrial Average fell 270.00 points. The country is quiet at midday, with prices starting at $174 to $175 in parts of the south. Offer prices have yet to be determined in the north. Significant trading volume will be delayed until the second half of the week. Beef percentages are higher at lunchtime (Selection 294.15 +2.73, Selection 279.48 +6.92) with light to moderate box movement (48 lds selected cuts, 07 lds selected cuts, 04 lds trim cuts and 11 lds ground cuts) , with a pick/choice range of $14.67. 120,000 cattle are expected to be slaughtered on Tuesday. The lunch pork cuts are 86.89, -0.17, with a total load of 167.77. 458,000 pigs are expected to be slaughtered on Tuesday.
Posted 08:43 – February live cattle are up $0.73 to $172.1, March feeder cattle are up $0.80 to $228.5, February lean hogs are up $1.10 to 70, Down $8, March corn is up 1/2 cent per bushel and March soybean meal is up $4.50. The Dow Jones Industrial Average is down 149.03 points. Another very quiet start in the cash cattle area as many in the area are dealing with extremely cold winter temperatures. Bids and asking prices have yet to be determined. The forecast CME Lean Hog Index for January 12, 2024 increased $0.08 to $66.55.
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