Posted at 10:52 a.m. – Mid-morning trading Monday remains quiet and little action after the USDA reported 28.1 million bushels of corn inspections and 42.7 million bushels of soybeans. March corn fell 1 cent and March soybeans rose 5 1/4 cents, finding some support from a 0.98 cent gain in March soybean oil. After lower starts, March KC wheat rose 1 cent and March Minneapolis wheat rose 5 1/4 cents. Crude oil rose $1.27 in March and Dow Jones futures rose 115 points. The US Dollar Index is down 0.01 and gold is down $4.30 in April.
Posted at 8:35 a.m. – After Monday's opening at 8:30 a.m., trading in grains is off to a mixed start. Corn rose 1/4 cent in March and soybeans fell 2 3/4 cents in March, with more rain expected in central Brazil this week. March KC wheat is down 2 3/4 cents and March Minneapolis wheat is up 1 1/2 cents as rain, ice and snow fall from East Texas to Michigan Monday morning. Crude oil rose $0.41 in March and Dow Jones futures rose 109 points. The US Dollar Index fell by 0.08 and gold prices for April fell by $6.60. According to CNBC.com, fewer than half of traders expect a rate cut in March.
Posted 7:04 p.m. (01/21) – Crop prices are off to a mixed start after opening hours Sunday evening, with slightly warmer temperatures returning to most of the U.S. on Monday. Corn fell 1/4 cent in March and soybeans rose 3 1/4 cents in March. The weather forecast for central and northeastern Brazil is wet this week, except for Mato Gross do Sul becoming drier on Wednesday. The forecast for Argentina looks drier over the next 10 days, but crop conditions remain favorable. March KC wheat is down 1/4 cent and March Minneapolis wheat is down 1/2 cent. March crude oil prices fell $0.16 and Dow Jones futures rose 99 points. The US Dollar Index fell by 0.09 and gold prices for April rose by $1.80.
Posted at 11:34 a.m. – April live cattle are down $0.83 to $176.55, March feeder cattle are down $1.50 to $230.45, February are lean hogs down $0.25 to $70.5, March corn up 1 3/4 cents per bushel and March soybean meal down $1.60. The Dow Jones Industrial Average rose 134.81 points. Last week's negotiated cash trade totaled 37,348 animals. Of these, 87% (32,534 units) were for local delivery, while the remaining 13% were for delayed delivery.
Posted 08:38 — April live cattle are down $0.58 to $176.8, March feeder cattle are down $0.65 to $231.3, February lean hogs are down $0.20 to 70 $.55 down, March corn up 1 cent per bushel and March soybean meal down $2.30. The Dow Jones Industrial Average rose 124.80 points. Following last Friday's neutral Cattle on Feed report, cattle contracts are trading lower early on Monday as traders evaluate the report and its findings. Likewise, nearby hog contracts are also trading lower while the postponed months maintain their slight upward momentum.
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