Posted at 10:39 a.m. – March corn up 4 cents per bushel, March soybeans up 13 cents per bushel. In March, KC wheat rose 7 3/4 cents per bushel, in March, Chicago wheat rose 4 1/2 cents per bushel, and in March, Minneapolis wheat rose 2 1/4 cents. The Dow Jones Industrial Average rose 15.15 points to 38,348.60, the U.S. dollar index fell 0.110 to 103.50 and March crude oil rose $0.94 a barrel to $77.72. Grain and soy markets have recovered well from initial weakness, with soybeans and soymeal being the top performers and even soybean oil rising to trade in the green. The recent weakness came despite bearish views on Brazil's soybean crop. A major agricultural advisory service just cut its soybean harvest estimate for Brazil to just 145.2 million tons after a harvest spree of 150.7 million tons in December, which is a whopping 12 million tons (441 million bushels) below January's WASDE estimate lies.
Posted at 8:36 am – March corn up 1/4, March soybeans up 7 cents per bushel. In March, KC wheat was up 2 1/4 cents per bushel, in March, Chicago wheat was down 1 1/4 cents per bushel, and in March, Minneapolis wheat was up 1 1/2 cents. The Dow Jones Industrial Average fell 47.15 points to 38,286.30, the U.S. dollar index fell 0.260 to 103.35 and March crude oil rose $0.25 a barrel to $77.03. In March, corn hit a new low of 1/4 cent but is now trading slightly higher, and wheat markets were lower again after Paris milling wheat futures also fell to a new low but are now rising. Soybeans and soymeal are stable after soymeal rebounded from a new low on Monday.
Posted at 11:46 a.m. – April live cattle are down $0.05 to $181,175, March feeder cattle are up $1.75 to $240,375, April lean hogs are up $2.25 to $85,675, March corn is up 4 3/4 cents per bushel and March soybean meal is up $6.30. The Dow Jones Industrial Average rose 41.06 points. Both feeder and lean hog contracts are trading significantly higher, but the livestock market is not as eager to start higher. Once Wednesday's livestock report is released, trading on the live cattle market is expected to become more relaxed. At this point, cash cattle trading had not yet developed.
Posted 08:39 — April live cattle are down $0.53 to $180.7, March feeder cattle are down $0.20 to $238,425, April lean hogs are down $0.98 to 84.4 $ increased, March corn was down 1/2 cent per bushel and March soybean meal was up $5.30. The Dow Jones Industrial Average is down 51.88 points. Livestock contracts are trading lower again as traders sit patiently and appear to be holding their cards close to their chests ahead of Wednesday's livestock report. The lean pork market is recovering; We hope this stronger trading can help push cash prices higher throughout the day.
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