Posted at 11:48 a.m. – Late Tuesday morning in March, corn was up 1/2 cent, losing an earlier attempt to trade above $4.50. March soybeans rose 8 cents, finding support from a $3.80 gain in March soybean meal. The forecast for central Brazil calls for lower rainfall and changing coverage next week before more consistent rain is expected again in early February. March KC wheat is up 11 1/4 cents with bull spreading evident, either the result of commercial buying or possible export selling. March Minneapolis wheat rose 1 3/4 cents. March crude oil prices fell $0.36 and Dow Jones futures fell 208 points. The US Dollar Index rose by 0.47 and April gold prices rose by $1.80.
Posted at 8:39 a.m. – After opening Tuesday at 8:30 a.m. CST, grain and oilseed prices are starting to rise, finding much-needed support after several weeks of falling prices. March corn rose 2 1/4 cents and March soybeans rose 8 1/2 cents, with both soy products also trading higher. March KC wheat rose 9 cents despite scattered rains in the southern two-thirds of Texas, and March Minneapolis wheat rose 3 3/4 cents. Crude oil fell $0.43 in March amid reports of a return in oil production in Libya. Dow Jones futures are down 90 points, the US dollar index is up 0.21 and April gold prices are up $1.10.
Posted at 11:35 a.m. – April live cattle are up $1.15 to $178.05, March feeder cattle are up $2.63 to $233.9, February lean hogs are up $2.13 Up $73.05, March corn down 1/4 cent per bushel and March soybean meal up $3.30. The Dow Jones Industrial Average is down 162.32 points. It was a strong day for the livestock industry with all three markets trading higher into the midday hour of Tuesday. Strong protein demand appears to be the market's biggest driving factor at the moment.
Posted 08:36 — April live cattle are up $0.28 to $177.175, March feeder cattle are up $0.43 to $231.7, February lean hogs are up $0.03 to 70.95 $ increased, March corn was up 2 1/4 cents per bushel and March soybean meal was up $3.40. The Dow Jones Industrial Average is down 46.73 points. After trading cautiously throughout Monday, livestock was trading significantly higher at the start of Tuesday. The expectation that the weather will improve this week, coupled with strong meat demand, is ensuring traders are more supportive of the market overall.
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