(Illustration by Nick Scalise)
Posted at 10:31 a.m. – March corn up 5 cents per bushel, March soybeans up 2 3/4 cents per bushel. In March, KC wheat rose 5 1/2 cents per bushel, in March, Chicago wheat rose 9 cents per bushel, and in March, Minneapolis wheat rose 3 3/4 cents. The Dow Jones Industrial Average rose 140.49 points to 38,045.94, the U.S. dollar index fell 0.560 to 103.06 and March crude oil rose $0.88 a barrel to $75.25. The EIA's weekly petroleum status report on Wednesday showed ethanol production fell more than 22% to just 818,000 barrels per day. This compares to 1.012 million barrels per day a year ago. Much of the decline is likely due to the brutal weather a week ago. The soy complex is mixed but changes little, while wheat and corn remain very solid.
Posted at 8:36 a.m. – March corn up 3 cents per bushel, March soybeans up 4 1/4 cents per bushel. March KC wheat is up 1 1/4 cents per bushel, March Chicago wheat is up 3 1/4 cents per bushel and March Minneapolis wheat is up 1 1/4 cents. The Dow Jones Industrial Average rose 123.39 points to 38,028.84, the U.S. dollar index fell 0.810 to 102.81 and March crude oil rose $0.40 a barrel to $74.77. Only soybean oil is lower early, while wheat, beans and corn are all higher early. Trading is quiet and there is little news in the middle of the week. At 9:30 a.m. CST we will release the EIA ethanol production and inventory reports and traders expect a decline in production due to last week's poor weather.
OMAHA (DTN) – April live cattle are up $0.48 at $178.3, March feeder cattle are up $0.88 at $234,525, April lean hogs are up $1.40 US dollars rose to $81,725, March corn was up 5 cents per bushel and March soybean meal was up $2.60. The Dow Jones Industrial Average rose 119.36 points. Bids are currently at $174 in the South, but with bid prices set at $176, no cattle have yet changed hands. Asking prices in the north are over $276. Packers' interest should increase throughout the day, but trading could be delayed until later in the week.
Posted 08:36 — April live cattle are up $0.33 to $178.15, March feeder cattle are up $0.45 to $234.1, April lean hogs are up $0.30 to 80,025 $ dropped, March corn was up 3 cents a bushel and March soybean meal was up $4.60. The Dow Jones Industrial Average rose 130.27 points. Both the live cattle and feeder markets are trading higher again as traders are pleased to see higher prices for packaged beef. Seeing if traders maintain this momentum until the close will be instructive as it will indicate whether or not they intend to overcome the current resistance levels. No cash cattle trade has developed yet, but packer interest should increase as the day progresses.
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