(Illustration by Nick Scalise)
OMAHA (DTN) – March corn fell 4 1/2 cents per bushel, March soybeans fell 2 1/2 cents per bushel. In March, KC wheat fell 11 1/4 cents per bushel, in March, Chicago wheat fell 14 3/4 cents per bushel, and in March, Minneapolis wheat fell 9 1/2 cents. The Dow Jones Industrial Average rose 93.66 points to 38,366.41, the U.S. dollar index fell 0.160 to 104.80 and March crude oil rose $0.45 a barrel to $78.32. The grain and soy markets are under strong selling pressure early on. March corn, March KC and Chicago wheat all fell to new contract lows. March beans hit lowest level since June. Expectations of a bearish USDA Outlook Forum on Thursday and continued favorable weather in South America add to the pressure.
Posted 08:34 – April live cattle are down $0.28 to $184,825, March feeder cattle are down $0.23 to $247,775, April lean hogs are up $0.90 to $81,975, corn is in March down 2 3/4 cents per bushel and March soybean meal is up $1.00. The Dow Jones Industrial Average rose 121.16 points. The cash cattle market still hasn't developed a trade, but interest from packers could increase at any time. Asking prices in the south are $184, but in the north they have not yet been set. After rising from $3.00 to $5.00 last week, trading is expected to remain stable this week.
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