(Illustration by Nick Scalise)
Posted 08:36 – After bell ringing Friday at 8:30am CDT, crop prices are mixed to higher after another disappointing export sales report. December corn is down 1 1/2 cents and November soybeans are up 8 3/4 cents after the USDA reported low export sales volumes for both corn and soybeans. KC July wheat was down 2 cents and Minneapolis July wheat was up 4 cents after net wheat sales cancellations were reported and shipments of HRW old crop wheat were down 32% year over year. Crude oil prices for July are up $1.80 and Dow Jones futures are up 255 points. The US Dollar Index is down 0.08 and Gold is down $3.70 in August. Late Thursday, the Senate passed the debt ceiling bill with a comfortable majority, eliminating the risk of a default by Jan. 1, 2025.
OMAHA (DTN) — August live cattle are up $0.58 to $172.95, August forage cattle are up $1.05 to $242.7, July lean hogs are up $1.95 to $84 up, in July corn is down 2 3/4 cents a bushel and in July soybean meal is down $0.00. The Dow Jones Industrial Average is up 250.42 points. Beef net sales in 2023 were 18,100 tonnes (mt), down 1% from the previous week but flat from the previous four-week average. The three largest buyers were Japan (5,700 mt), South Korea (4,700 mt) and China (3,400 mt). Net sales of 22,600 tons of pork in 2023 were 23% below the previous week and 36% below the previous four-week average. The three largest buyers were Mexico (9,300 mt), Japan (3,900 mt) and Canada (2,100 mt).
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