Posted at 10:36 a.m. – December corn is up 1/4 cent per bushel, January soybeans are down 2 3/4 cents per bushel. In December, KC wheat was up 1 1/2 cents per bushel, in December, Chicago wheat was down 1 1/4 cents per bushel, and in December, Minneapolis wheat was up 8 cents. The Dow Jones Industrial Average rose 573.12 points to 34,910.99 and the U.S. dollar index fell 1.320 to 104.31 and December crude oil rose $0.91 a barrel to $79.17. On Tuesday morning we see that both soybeans and soymeal are weakening slightly due to the big gains on Monday. Corn is little changed and wheat is a mixed bag, with only Minneapolis significantly higher. The day's bullish winner is soybean oil, which is now rising sharply and rising above the 20-day moving average for the first time since September. Stock prices continue to rise due to better inflation news from the Consumer Price Index.
Posted 08:33 – December corn is steady, January soybeans are down 1 cent per bushel. In December, KC wheat rose 5 1/4 cents per bushel, in December, Chicago wheat rose 2 1/2 cents per bushel, and in December, Minneapolis wheat rose 7 cents. The Dow Jones Industrial Average rose 358.62 points to 34,696.49 and the US dollar index fell 0.970 to 104.66 and December crude oil rose $0.64 a barrel to $78.90. The USDA announced another new corn sale to Mexico for 2023-24: 101,745 tons of corn, or 4 million bushels, were sold. Grain and soy markets have recovered from initial losses and are mostly up, with soybean oil leading the way. Wheat is also stronger, benefiting from the US dollar index's plunge following better-than-expected inflation news.
Posted at 11:39 am – December live cattle are up $1.70 to $176,625, January feeder cattle are up $1.10 to $229.4, December lean hogs are up 0 $.85 down to $72.5, corn up 1 3/4 cents a bushel in December and soybean meal up $2.50 in December. The Dow Jones Industrial Average rose 462.94 points. Some early live bid prices of $180 to $183 are being reported in parts of the South at midday, but bids remain very difficult to determine. The beef cuts are lower at lunch (select 295.99 – 1.86, select 267.74 – 1.50) with moderate case movement (39 lds select cuts, 21 lds select cuts, 10 lds trim and 17 lds ground), with a selection / Choose a spread of 28.25. 126,000 cattle are expected to be slaughtered on Tuesday. Lunch pork cuts are 87.77, +1.00, with a total load of 181.27. 486,000 pigs are expected to be slaughtered on Tuesday.
Posted 08:40 – December live cattle are up $0.10 to $175,025, January feeder cattle are down $0.15 to $228.15, December lean hogs are up $0.85 US dollars down to $72.5, corn down 1/2 cent per bushel in December and soybean meal down $3.90 in December. The Dow Jones Industrial Average rose 330.95 points. It's another quiet start to the morning in cash-catching land, where bids and asks have not yet been set. If the trend of recent weeks continues, significant trading volume will likely be delayed until much later in the week.
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