(Illustration by Nick Scalise)
OMAHA (DTN) – Corn is up 4 1/4 cents a bushel in July, soybeans are up 1/4 cent in July, KC wheat is down 1 1/2 cents in July, Chicago wheat is in July Up 5 1/2 cents and July Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is down 122.76 points and Crude Oil is down $2.12 a barrel in July. The US dollar index is up 0.270 and gold is down $14.80 an ounce in June. Concerns in the financial markets related to the debt ceiling standoff, clear weather for the completion of sowing and the second week of net sales in corn and wheat put early pressure on grain and soybean markets. However, the corn calendar spread continues to reflect tight supplies, with the July-September spread inversely widening and Chicago and Minneapolis wheat up.
Posted 8:36am – August live cattle are up $0.33 to $164.45, August forage cattle are up $0.45 to $234.975, July lean hogs are up $1.68 to 79.15 $down, in July corn is up 5 1/4 cents a bushel and in July soybean meal is up $1.00. The Dow Jones Industrial Average is down 102.26 points. Beef net sales in 2023 came in at 18,300 tons, up 5% from the previous week and 15% from the previous four-week average. The three largest buyers were Japan (5,500 mt), South Korea (3,800 mt) and China (2,500 mt). Pork net sales in 2023 came in at 29,200 tons, down 8% from the previous week and 29% from the previous four-week average. The three largest buyers were Mexico (14,400 mt), Japan (4,400 mt) and South Korea (4,400 mt).
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