(Illustration by Nick Scalise)
OMAHA (DTN) — Corn is up 9 cents a bushel in July, soybeans are up 6 3/4 cents in July, KC wheat is down 18 1/4 cents in July, Chicago wheat is up 7 cents down and Minneapolis wheat is down 10 cents in July. The Dow Jones Industrial Average is down 226.43 points and crude oil is up $1.36 a barrel in July. The US dollar index is up 0.320 and gold is down $3.10 an ounce in June. Losses in Kansas City wheat are increasing while corn, soy and soy products remain higher throughout the day. On Wednesday there is very little news that could drive the markets. Ethanol data was mixed, with production coming in fairly close to last week’s at 983,000 barrels per day, but a huge 5% drop in ethanol inventories was positive.
Posted at 8:36 am – Corn is up 5 1/2 cents a bushel in July, soybeans are up 5 3/4 cents in July, KC wheat is down 6 cents in July, Chicago wheat is in July Down 4 1/4 cents and Minneapolis Wheat down 4 1/4 cents in July is down 1 1/2 cents. The Dow Jones Industrial Average is down 109.71 points and crude oil is up $1.45 a barrel in July. The US Dollar Index is up 0.070 and Gold is up $3.00 an ounce in June. On a day of little news, wheat is trading lower while corn, beans and soy products have recovered from initial weakness and are trading higher. What is baffling markets is the lack of progress on solving the debt ceiling issue.
Posted 08:37 – In August live cattle are down $0.30 to $162.275, in August feed cattle are down $0.78 to $232.7, in July lean hogs are down $0.18 to $80.8 down, in July corn was up 4 3/4 cents a bushel and in July soybean meal was up $0.20. The Dow Jones Industrial Average is down 106.51 points. Once again, the livestock sector enters the market with caution as traders note the rapid rise in corn prices early in the day. Barvieh bids are not being offered at this time but packer interest is likely to increase as Wednesday progresses.
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