Posted at 10:34 – Thursday morning row crop prices reverse direction, taking back some of the early reactions to Friday’s planting estimates. December corn was up 8 3/4 cents after the US Department of Energy said ethanol production rose slightly last week to 1.060 million barrels per day from 1.052 million barrels per day, helped by higher gasoline demand this week . Ethanol inventories fell to 22.3 million barrels from 23.0 million barrels, a sign of active demand. November soybeans are down 16 3/4 cents while August flour and bean oil contracts are also lower. September KC wheat is down 2 1/2 cents and September Minneapolis wheat is up 1 1/4 cents. August Crude Oil prices are down $1.21 and Dow Jones futures are down 515 points. The US Dollar Index is down 0.01 and Gold is down $12.20 in August. According to the Census Bureau, US exports totaled $247.1 billion in May, down $2.1 billion from the previous month.
Posted 08:49 – After opening Thursday at 8:30 am CDT, row crops are starting in contrast to their recent moves while the two weather-driven wheat varieties are higher. December corn is up 4 1/2 cents and November soybeans are down 9 cents. Thursday’s drought monitor showed worsening drought conditions in southern Missouri, southern Minnesota and Wisconsin, while improving humidity levels were noted in Illinois and southern Indiana. It’s currently raining in Oklahoma and chances are it will stay in the corn and soybean areas down south for the next five days. September KC wheat is up 3 1/2 cents and September Minneapolis wheat is up 4 3/4 cents. Crude oil is down $0.28 in August and Dow Jones futures are down 264 points after minutes from the US Federal Reserve’s last meeting suggested more rate hikes in the future. The US Dollar Index is down 0.27 and Gold is down $9.50 in August. Fighting in Ukraine continues and Russia has overnight attacked the western city of Lviv in Ukraine.
Posted at 11:31 am – In August live cattle are down $0.53 to $174.425, in August forage cattle are down $2.73 to $241.975, in August lean hogs are down $1.25 to $98.7 up, in December corn is up 8 1/4 cents a bushel and in December soybean meal is down $2.50. The Dow Jones Industrial Average is down 435.73 points. The cash cattle market is currently bidding in parts of Kansas and Nebraska, but the feedlots are still passing them along. Interest could pick up later Thursday afternoon; On the other hand, it’s just as likely that trading could be delayed until Friday at this point.
Posted 8:33 AM — August live cattle down $1.00 to $173.95, August feed cattle down $2.15 to $242.55, August lean hogs down $0.90 to 98 Up $.35, in December corn is up 3 1/2 cents a bushel and in December soybean meal is down $1.20. The Dow Jones Industrial Average is down 197.39 points. The cash beef market still hasn’t garnered the slightest bit of interest as packers try to break into the cash sector by making fatteners worry about their beef needs. Interest should increase throughout the day, although trading could potentially be delayed until Friday.
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