Posted 8:37 am – December Corn is down 2 3/4 cents a bushel, November Soybeans are down 17 1/2 cents, KC September Wheat is down 11 1/4 cents, Chicago Wheat in the September is down 13 cents and Minneapolis wheat in September is down 7 3/4 cents. The Dow Jones Industrial Average is down 246.84 points and Crude Oil is down $1.29 a barrel in September. The US dollar index is up 0.650 and gold is down $12.40 an ounce in December. Red is again the color of the grain and soy futures board, except for spot soy flour. The improvement in corn and soybean crop valuations over the past week and the continued benign weather outlook has led funds to liquidate some long positions in the soybean complex. Average trade estimates for Friday’s crop report are 175.5 bpa for corn and 51.3 bpa for beans.
Posted 8:36 am — Live cattle up $0.40 in October to $181.825, feed cattle in September up $0.10 to $250.975, lean hogs up $0.85 to $85.675 in October, Corn is down 2 1/4 cents a bushel in December and soybean meal is down $3.30 in December. The Dow Jones Industrial Average is down 226.93 points. The livestock complex is trading higher early Tuesday as traders see opportunities in the market given cheaper corn prices. A cash cattle trade is unlikely to develop on Tuesday as the trade is not likely to develop until later in the week as packers and fatteners go to war again this week.
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