Posted at 10:45 a.m. – December corn down 2 cents per bushel, November soybeans are steady. December KC wheat is down 1 1/4 cents per bushel, December Chicago wheat is down 3 cents per bushel and December Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average rose 97.88 points to 34,598.61 and the US dollar index fell 0.120 to 104.94 and October crude oil rose $0.74 a barrel to $87.61. The grain and soy markets hardly change with quiet and low trading volumes. Positive export news for corn and beans caused shipments of old crops to exceed the USDA estimate. Another sale of soybeans for a new crop was announced for the eighth time in the last ten days, with China the buyer of 4.4 million tonnes.
Posted 08:38 – December corn is stable, November soybean price is down 4 cents per bushel. December KC wheat is down 1/4 cent per bushel, December Chicago wheat is down 1 cent per bushel and December Minneapolis wheat is down 1 1/4 cent. The Dow Jones Industrial Average rose 5.30 points to 34,506.03 and the US dollar index fell 0.190 to 104.87 and October crude oil rose $0.29 a barrel to $87.16. The soybean complex has weakened despite a further new sale of 4.4 million tonnes of beans to China. It appears that long funds continue to unwind long positions ahead of the September WASDE report on Tuesday. Corn and wheat have hardly changed in quiet trading.
Posted at 11:27 a.m. – October live cattle are down $0.53 to $183,125, October feeder cattle are up $0.35 to $259,225, October lean hogs are down $0.63 to $82.2 , December corn was down 3 cents per bushel and December soybean meal was up $4.50. The Dow Jones Industrial Average rose 101.47 points. Light trading is reported in the South, where live cattle are trading mostly for $180, which is $1.00 to $2.00 higher than last week’s weighted average. There was some livestock trading in the north Thursday afternoon, but no further sales were reported Friday morning. The week’s volume could be low again if the Packers don’t get aggressive this afternoon.
Posted 08:34 — Live cattle are up $0.03 in October at $183.675, feeder cattle are up $0.08 in October at $258.95, lean hogs are up $0.48 in October at 82.35 $ down, December corn down 1/4 cent per bushel and December soybean meal down $1.10. The Dow Jones Industrial Average rose 22.56 points. Net sales of beef in 2023 were 11,900 tonnes, down 34% from the previous week and 20% below the previous four-week average. The three main buyers were Japan (4,100 tons), South Korea (2,100 tons) and China (1,600 tons). Net sales of 26,300 tons of pork in 2023 were 29% below the previous week and 13% below the previous four-week average. The three main buyers were Mexico (8,500 tons), Japan (4,700 tons) and South Korea (3,300 tons).
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