Posted at 10:41 a.m. – March corn is up 1 3/4 cents per bushel, March soybeans are down 2 3/4 cents per bushel. March KC wheat is down 5 cents per bushel, March Chicago wheat is up 4 1/4 cents per bushel and March Minneapolis wheat is down 6 cents. The Dow Jones Industrial Average fell 407.18 points to 38,390.20, the U.S. dollar index rose 0.610 to 104.78 and March crude oil rose $1.16 a barrel to $78.08. Soybeans and soybean oil have recovered somewhat from initial weakness, with bean oil now trading higher. Corn is up slightly while wheat is mixed, with Chicago higher and both durum markets lower. Trade with China and South America is subdued during the holiday.
Posted at 8:37 am – March corn up 1/2 cent per bushel, March soybeans up 2 cents per bushel. March KC wheat is down 5 cents per bushel, March Chicago wheat is down 1 3/4 cents per bushel and March Minneapolis wheat is down 4 3/4 cents. The Dow Jones Industrial Average fell 331.88 points to 38,465.50, the U.S. dollar index rose 0.590 to 104.76 and March crude oil rose $0.68 a barrel to $77.60. Corn and soybeans are trading slightly higher, while wheat is weaker and bean oil is rising. The latter is influenced by a sharp decline in Malaysian palm oil shipments and the substitution of more soybean oil than palm oil by India – the world's largest vegetable oil importer. Brazil is also considering adding 2% more bean oil to its diesel blend.
Posted at 11:26 a.m. – April live cattle are down $0.45 to $185,475, March feeder cattle prices are down $0.28 to $248.55, April lean hogs are down $0.23 to 80 $.9 down, corn is stable in March and soybean meal is stable in March. The Dow Jones Industrial Average is down 460.54 points. Livestock is trading lower around midday on Tuesday as the market lacks significant support. At this point, no cash trade has developed and it is likely that this week's trading will be delayed until after Wednesday.
Posted 08:34 – April live cattle decreased $0.45 to $185,475, March feeder cattle decreased $0.83 to $248.00. April lean hogs increased $0.25 to $81,375, March corn increased 1/4 cent per bushel and March soybean meal decreased $3.10. The Dow Jones Industrial Average is down 334.78 points. Both live cattle and feeder cattle contracts are trading lower, while the lean hog market has found some support early in Tuesday trading. If pork cut prices can close higher again, the market could be able to establish a strong support level at current levels.
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