Posted at 11:37 a.m. – March corn down 2 1/4 cents per bushel, March soybeans down 18 cents per bushel. March KC wheat is down 1 1/2 cents per bushel, March Chicago wheat is up 4 cents per bushel and March Minneapolis wheat is up 4 1/2 cents. The Dow Jones Industrial Average rose 42.52 points to 38,192.82 and the US dollar index fell 0.050 to 103.22 and March crude oil rose $0.88 a barrel to $76.73. Soybeans and soybean meal continue to fall sharply with corn futures in tow. Wheat is currently only blended with lower KC. Declining U.S. soy demand, with a 19% annual decline in export sales, and a huge discount in Brazil's cash soy supply are putting pressure on the soy market.
Posted at 8:35 a.m. – March corn down 2 1/4 cents per bushel, March soybeans down 13 1/2 cents per bushel. March KC wheat is down 5 1/4 cents per bushel, March Chicago wheat is down 5 1/2 cents per bushel and March Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average rose 81.89 points to 38,232.19, the U.S. dollar index rose 0.270 to 103.54 and March crude oil rose $0.93 a barrel to $76.78. The USDA announced new sales of soybeans – 206,834 tons or 7.6 million bushels to Mexico for 2023-24. Despite this sale, U.S. soy exports are at 19% of last year's level. Grains and soybeans, led by soybeans and bean oil, are under heavy selling pressure early Thursday.
Posted at 11:36 a.m. — April live cattle are up $1.78 to $182,475, March feeder cattle are up $4.65 to $244.8, April lean hogs are up $1.70 to 83,125 $ down, March corn down 3 1/4 cents per bushel and March soybean meal down $9.10. The Dow Jones Industrial Average rose 192.33 points. There are bids of $176 in the south, $276 to $278 in the north, but the asking prices are fixed at $178 in the south and over $280 in the north – the trade battle continues. The trade could be delayed until Friday unless the Packers become more aggressive.
Posted 08:35 – April live cattle are up $0.50 to $181.2, March feeder cattle are up $1.80 to $241.95, April lean hogs are up $0.03 to 84, Up $85, March corn down 2 1/2 cents per bushel and March soybean meal down $2.60. The Dow Jones Industrial Average rose 83.85 points. Net beef sales of 16,700 tonnes (mt) in 2024 were primarily accounted for by Japan (5,200 t), China (3,300 t) and Mexico (2,500 t). Net sales of 42,900 tons of pork in 2024 were primarily from Mexico (13,400 tons), China (12,600 tons) and Canada (4,200 tons).
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