Posted at 10:32 a.m. – As of Tuesday morning, December corn was down 5 cents and January soybeans were up 5 1/2 cents. In December, soy products are at a new contract high with a price increase of $15.00, while soy oil is down 1.3 cents, approaching its lowest price in five months. December KC wheat is down 12 cents with a chance of rain in the extended forecast. December Minneapolis wheat rose 1 cent. Crude oil fell $2.50 in December, with several commodities falling following bearish economic news from China on Tuesday. Dow Jones futures are up 55 points, the US dollar index is up 0.40 and gold is down $18.60 in December.
Posted at 8:36 a.m. – After Tuesday's open at 8:30 a.m. CST, grains and oilseeds are mixed after starting lower, along with most commodities earlier. December corn fell 2 1/2 cents and January soybeans rose 6 cents after the USDA reported sales of 4.0 million bushels of soybeans to China in 2023-24. December KC wheat was down 1 cent and December Minneapolis wheat was up 2 3/4 cents. Crude oil fell $2.00 in December after China's exports posted a bigger-than-expected 6.4% decline in October. Dow Jones futures fell 53 points, the US dollar index rose 0.51 and December gold prices fell $15.80.
Posted at 11:59 a.m. – December live cattle are down $0.98 to $180.35, January feeder cattle are down $2.08 to $234.35, December lean hogs are down $0.38 to 72,775 $ increased, corn was down 8 cents a bushel in December and soybean meal was up $10.60 in December. The Dow Jones Industrial Average rose 30.30 points. Beef proportions are higher at lunchtime (selection 302.41 +0.69, selection 270.72 +0.36) with moderate box movement (44 lds selected cuts, 14 lds selected cuts, 14 lds trim cuts and 14 lds ground cuts), with a Selection/Choose a spread of 31.69. Today's cattle slaughter project is 126,000. Lunch pork cuts are 87.74, -3.87, with a total load of 178.44. An estimated 485,000 pigs will be slaughtered today.
Posted 08:38 — December live cattle are down $0.08 to $181.25, January feeder cattle are down $0.23 to $236.2, December lean hogs are down $1.18 to 73,575 $ increased, December corn was down 3 cents per bushel and December soybean meal was up $5.90. The Dow Jones Industrial Average is down 38.37 points. Another very slow start in cattle country on Tuesday morning, bids and asking prices have not yet been determined and significant trading volume is likely to be delayed for at least another day. Just as many packers are underpaid.
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