Posted at 11:34am – Late Monday morning row crops are down. Corn in December is down 3 3/4 cents and soybeans are down 2 3/4 cents in November as traders hold back on dry weather concerns for now. KC wheat is up 8 1/4 cents in July and Minneapolis wheat is up 8 3/4 cents in July, finding support ahead of the next NASS wheat production estimate and WASDE report on Friday. July Crude Oil prices are up $1.09 and Dow Jones futures are down 62 points. The US dollar index is down 0.02 and gold is up $5.50 in August. As expected, President Joe Biden signed the debt ceiling bill into law over the weekend.
Posted at 08:33 – Grain prices higher after Monday’s bell at 8:30 CDT. Corn in December is up 3 3/4 cents and soybeans are up 4 1/2 cents in November with the week still having little chance of rain, particularly in the central and eastern Midwest. In July, KC wheat was up 10 1/2 cents and in July, Minneapolis wheat was up 8 3/4 cents. Crude oil rose $1.66 in July after OPEC agreed to cut oil production by a million barrels a day from July. Dow Jones futures are down 27 points. US Dollar Index is up 0.30 and August Gold is down $8.30.
Posted Sunday June 4th at 7:05pm – Row crops are higher after Sunday night open as the 7-day forecast calls for only light rain amounts for the central and eastern Midwest. December corn is up 3 1/2 cents and November soybeans are up 3 cents. Scattered showers fell over the weekend, mostly from Nebraska to Texas, while much of the Midwest remains dry. KC wheat is up 4 3/4 cents in July and Minneapolis wheat is up 2 1/4 cents in July. Crude oil rose $1.50 in July after multiple media outlets reported that OPEC agreed to cut oil production by 1 million barrels a day from July. The move will result in global oil supplies remaining tight — possibly too tight — relative to demand. Dow Jones futures are up 6 points. US Dollar Index is up 0.15 and August Gold is down $4.50. As expected, President Joe Biden signed the debt ceiling bill into law over the weekend.
Posted at 11:37 am – In August live cattle are up $0.58 to $173.475, in August forage cattle are up $0.50 to $242.40, in July lean hogs are up $0.30 to 84, Down $35, in July corn is down 11 3/4 cents a bushel and in July soybean meal is up $0.70. The Dow Jones Industrial Average is down 54.85 points. As corn prices fall again, livestock and feedstock contracts trade higher into Monday’s noon hour. Meanwhile, the lean pork complex is at a loss as to exactly which direction to trade as traders are currently being given mixed signals: pork shares are higher, but cash prices are lower.
Posted 08:36 — In August live cattle are up $1.10 to $174, in August forage cattle are up $0.80 to $242.7, in July lean hogs are down $1.68 to $82.975 , in July corn is up 1/4 cent a bushel and in July soybean meal is up $2.90. The Dow Jones Industrial Average is down 14.99 points. Although corn prices have increased slightly, both livestock and forage contracts continue to recover. Meanwhile, the lean hog complex is hesitant to start Monday as the market waits patiently for demand to hopefully shine through this week.
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