Posted at 10:38 a.m. – March corn is up 1 3/4 cents per bushel, March soybeans are up 5 1/2 cents per bushel. March KC wheat is down 9 1/2 cents per bushel, March Chicago wheat is down 7 1/2 cents per bushel and March Minneapolis wheat is down 7 1/4 cents. The Dow Jones Industrial Average fell 353.49 points to 38,300.93, the U.S. dollar index rose 0.610 to 104.53 and March crude oil fell $0.11 a barrel to $72.17. In the morning, corn, soybeans and soy products climbed into the plus column, while wheat remains under pressure. There isn't much news at the start of the week. The weather remains challenging in Argentina recently, but a cooler and wetter pattern is expected through the weekend.
Posted at 8:34 a.m. – March corn down 2 3/4 cents per bushel, March soybeans down 7 1/4 cents per bushel. March KC wheat is down 9 1/2 cents per bushel, March Chicago wheat is down 6 3/4 cents per bushel and March Minneapolis wheat is down 7 1/2 cents. The Dow Jones Industrial Average fell 26.46 points to 38,627.96, the U.S. dollar index rose 0.470 to 104.39 and March crude oil rose $0.01 a barrel to $72.29. The USDA reported new corn sales of 155,000 metric tons, or 6.1 million metric tons, to Mexico in 2023-24. Grain and soy markets remain bearish due to declining sales, the increasing Brazilian soy crop and funds' willingness to add to short positions. As of last Tuesday, the fund's short corn rose to 280,000 contracts, just over 40,000 contracts below the record net short.
Posted Sunday at 7:07 p.m. – As of Sunday evening's open, the March corn price is down 1 1/2 cents and the March soybean price is down 1 1/2 cents. After a week of generally favorable weather for the soybean harvest and corn cultivation, central Brazil experienced scattered rain over the weekend. Argentina's crops look set to see another three days of hot temperatures before rain returns, offering relief from the recent hot and dry spell. March KC wheat fell 4 3/4 cents and March Minneapolis wheat fell 4 1/2 cents. External markets are relatively calm after the U.S. military struck Iran-linked targets on Friday and joined the United Kingdom in striking targets in Yemen on Saturday. Crude oil rose $0.02 in March and Dow Jones futures fell 65 points. The US Dollar Index rose by 0.21 and gold prices for April fell by $1.90.
Posted at 11:39 a.m. — April live cattle are down $0.65 to $183.1, March feeder cattle are down $1.60 to $243.2, April lean hogs are down $1.23 down to $82.6, March corn down 1 1/2 cents per bushel and March soybean meal up $3.80. The Dow Jones Industrial Average is down 287.25 points. Last week's negotiated cash trade totaled 69,008 animals. Of these, 90% (62,183 units) were intended for local delivery, while the remaining 10% (6,825 units) were intended for delayed delivery. New showlists seem to be a mixed bag: less in Texas, but more in Kansas and Nebraska.
Posted 08:37 — April live cattle are down $0.13 to $183,625, March feeder cattle are up $0.15 to $244.95, April lean hogs are up $1.23 to 82.6 $ decreased, March corn decreased 2 cents per bushel and March soybean meal decreased $1.00. The Dow Jones Industrial Average is down 147.73 points. The livestock complex is off to a mixed start as traders look for continued support from market fundamentals. It will be particularly interesting to see how many ranchers bought in the spot market last week, as this could be an indication of how aggressive they will be in this week's spot market.
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