Posted at 10:35 a.m. – March corn down 8 cents per bushel, March soybeans down 17 cents per bushel. March KC wheat is down 10 1/4 cents per bushel, March Chicago wheat is down 18 1/2 cents per bushel and March Minneapolis wheat is down 9 1/2 cents. The Dow Jones Industrial Average fell 83.54 points to 37,382.57, the U.S. dollar index fell 0.290 to 102.13 and crude oil fell $3.43 a barrel to $70.38 in February. Further rain in Brazil and continued fund liquidations in soybean meal as well as the drop in crude oil prices by more than $3.00 weighed on the markets early Monday. Wheat is in sharp decline due to the major winter storm moving across the central and southern Plains.
Posted at 8:35 a.m. – March corn down 1 1/2 cents per bushel, March soybeans down 16 cents per bushel. March KC wheat is down 12 1/2 cents per bushel, March Chicago wheat is down 16 3/4 cents per bushel and March Minneapolis wheat is down 8 1/2 cents. The Dow Jones Industrial Average fell 145.58 points to 37,320.53, the U.S. dollar index fell 0.080 to 102.33 and crude oil fell $3.38 a barrel to $70.43 in February. Grain and soy markets are equally bearish heading into the new week, led by March wheat and March soybeans. Crude oil futures plunge as Saudi Arabia plans to cut supply prices, weakening corn and bean oil. The rains in Brazil benefit the soybean harvest.
Posted on Sunday, January 7th at 7:05 pm CST – After opening hours on Sunday evening, crop prices are quietly higher. Corn is up 3/4 cent in March and soybeans are up 3 cents in March. Favorable rains fell over central and northeastern Brazil as well as central and southern Argentina over the weekend. March KC wheat is down 1/4 cent and March Minneapolis wheat is down 3/4 cent, with widespread rainfall expected in many winter wheat areas, followed by colder temperatures later this week. February crude oil prices fell $0.28 and Dow Jones futures fell 61 points. The US Dollar Index fell by 0.02 and February gold prices rose by $2.00.
Posted at 11:40 a.m. – February live cattle are up $0.45 to $171,025, March feeder cattle are up $1.25 to $225.4, February lean hogs are up $0.13 to $69,875 decreased, March corn was down 6 1/4 cents per bushel and March soybean meal was down $0.80. The Dow Jones Industrial Average is down 78.71 points. A very quiet Monday with bids and asking prices not yet set. Significant trading volume is likely to be delayed until the second half of the week. The number of newsshowlists seems to be mixed, higher in Texas, about the same in Kansas, but lower in Nebraska/Colorado. Beef cuts are mixed at noon (selection 278.34 +1.18, selection 259.43 -0.10) with light to moderate box agitation (35 lds selected cuts, 09 lds selected cuts, 00 lds trim and 10 lds ground), with a Selection/selection margin of 18.91. An estimated 127,000 cattle will be slaughtered today. Lunch pork cuts are 85.24, +1.04, with a total load of 183.27. An estimated 485,000 pigs will be slaughtered today.
Posted 8:35 a.m. – February live cattle are up $0.23 to $170.8, March feeder cattle prices are up $0.50 to $224.65, February lean hogs are up $0.58 Down $69,425, March corn down 1 3/4 cents per bushel and March soybean meal down $2.60. The Dow Jones Industrial Average is down 156.94 points. Both livestock buyers and sellers are preparing not only for the week ahead, but also for the severe winter weather that is expected to hit much of the cattle feed country Monday through Tuesday. For the week ending January 6, 2024, an estimated 556,000 cattle were slaughtered, up 9.4% from the previous week but down 1.6% from the previous year. Beef production increased 9.5% compared to the previous week and 0.8% compared to the same week in 2023. For the week ending January 6, 2024, an estimated 2,381,000 pigs were slaughtered, an increase of 7.2% from the previous week and 1.5% more than last year. Pork production was estimated at 514.2, up 7.0% from the previous week but down 03% from the same week in 2023. The forecast CME Lean Hog Index for January 4 decreased by 0, $01 to $65.85.
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