Posted at 10:40 a.m. – March corn down 1 3/4 cents per bushel, March soybeans down 9 cents per bushel. In March, KC wheat fell 12 1/4 cents per bushel, in March, Chicago wheat fell 11 3/4 cents per bushel, and in March, Minneapolis wheat fell 7 1/2 cents. The Dow Jones Industrial Average rose 29.50 points to 38,496.81, the U.S. dollar index fell 0.180 to 103.22 and March crude oil fell $1.64 a barrel to $76.18. Grain and soy markets remain under pressure, with the exception of bean oil, which has recovered to the same levels. The EIA reported that ethanol production rose over 21% last week to 991,000 barrels per day and ethanol inventory fell sharply by 6% to 24.3 million barrels. Wheat is under intense pressure, erasing all of Tuesday's gain.
Posted at 8:37 a.m. – March corn down 3 1/4 cents per bushel, March soybeans down 8 3/4 cents per bushel. March KC wheat is down 7 3/4 cents per bushel, March Chicago wheat is down 8 1/2 cents per bushel and March Minneapolis wheat is down 7 3/4 cents. The Dow Jones Industrial Average rose 33.82 points to 38,501.13, the U.S. dollar index fell 0.210 to 103.19 and March crude oil fell $0.67 a barrel to $77.15. Grain and soy markets, excluding soybean meal, start lower after solid gains on Monday. There is very little new news, but it is the end of the month, which can usually be volatile. A higher close for corn, soybeans and soymeal would send a bullish technical signal to traders.
Posted at 11:38 a.m. – April live cattle are down $0.35 to $181.4, March feeder cattle are down $0.55 to $240,775, April lean hogs are down $0.10 to 85, $00 down, March corn down 1/2 cent per bushel, and March soybean meal down $0.10. The Dow Jones Industrial Average rose 41.69 points. Cattle contracts are approaching the market cautiously, waiting patiently to see what Wednesday afternoon's livestock report presents. There likely won't be any cash cattle trading in the market until Thursday.
Posted 08:40 – April live cattle are down $0.43 to $181,325, March feeder cattle are down $0.60 to $240,725, April lean hogs are down $0.68 to $84,225, corn is in March was down 3 cents per bushel and soybean meal was down $0.90 in March. The Dow Jones Industrial Average rose 27.59 points. Livestock contracts struggle early on Wednesday as traders tread cautiously ahead of the livestock report on Wednesday afternoon. It's likely the market will trade this way for most of the day until traders see what Wednesday afternoon's data suggests.
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