Posted at 10:29 — In Friday morning trading, wheat and corn futures posted modest gains as soybean prices held steady and traders focused on a bullish forecast for August. Corn in December is up 9 3/4 cents and soybeans are up 36 1/2 cents in November, helped by gains in oil and flour futures. September KC wheat is up 2 1/2 cents, September Minneapolis wheat is down 3 1/4 cents and September Chicago wheat is up 5 1/2 cents. Ukrainian leaders have said they are ready to begin transporting grain from key Black Sea ports while awaiting approval from Turkey and NATO to meet the terms of last week’s deal, which weighs on the grain. Crude oil in September trades around $4.82 a barrel and Dow Jones futures are up 66.49 points. The US Dollar Index is down 0.335 and gold is up $11.50 an ounce in August.
Posted at 8:35am — After Friday’s 8:30am CDT open, all grains are trading higher again and are on track to end a bullish week largely dominated by a hot and dry weather forecast for the next driven for two weeks. December corn is up 17 1/4 cents and November soybeans are up 36 1/2 cents after the USDA said 4.85 million bushels of newly harvested soybeans were sold to undisclosed destinations. September KC wheat is up 18 3/4 cents and September Minneapolis wheat is up 13 1/4 cents after the HRS wheat tour concluded this week with an average spring wheat yield estimate of 49.1 bushels per acre. Crude oil in September trades around $3.44 and Dow Jones futures are up 14 points. The US Dollar Index is up 0.25 and Gold is up $5.10 in August.
Posted at 11:33am – Live cattle up $0.18 in October to $142, feed cattle up $0.40 in September to $180.6, lean hogs up $0.65 in October to $96.975, corn in December by 6 3/4 cents a bushel and soybean meal in December to $5.20. The Dow Jones Industrial Average is up 142.38 points. Lean hog contracts are trading higher as the market warmly welcomes a higher pork cutout value at midday. If the market sees consumer support carry through into the afternoon, prices have a chance to trade higher Monday morning.
Posted at 8:35am – October live cattle down $0.05 to $141.775, September feed cattle down $1.50 to $178.7, October lean hogs down $0.55 to $95.775 $ down, December corn is up 14 3/4 cents a bushel and December soybean meal is up $7.50. The Dow Jones Industrial Average is up 34.63 points. Livestock contracts are trading weak into Friday’s start. With fundamental support failing to help livestock contracts trade higher and corn prices kicking off aggressively on Friday, the cattle complex faces an uphill battle in the Friday market.
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