Posted 09:46 – The US Department of Energy said ethanol production fell from 1.067 to 1.023 million barrels per day last week while ethanol inventories remained at 22.9 million barrels. More surprisingly, commercial crude oil shipments increased by 5.9 million barrels last week after domestic production hit a new post-Covid high of 12.6 million barrels per day, enough to put 1 million barrels back into strategic reserve bring to. Refinery production for ultra-low sulfur gasoline and diesel fell last week, while demand for gasoline rose to 9.302 million barrels per day, up 2% from a year earlier at the time. December corn is up 3/4 cents and November soybeans are up 9 1/2 cents. September KC wheat is down 6 cents and September Minneapolis wheat is down 6 1/2 cents. Crude oil prices are up $1.67 in September and Dow Jones futures are up 22 points. The US Dollar Index is down 0.13 and Gold is down $4.30 in December.
Posted 8:39 AM – December Corn is up 3/4 cents a bushel, November Soybeans are up 8 1/2 cents, September KC Wheat is down 6 1/2 cents, September Chicago Wheat is up down 9 1/2 cents and September Minneapolis wheat is down 5 1/2 cents. The Dow Jones Industrial Average is up 19.77 points and crude oil is up $0.87 a barrel in September. The US Dollar Index is down 0.130 and Gold is down $2.50 an ounce in December. Corn, soybeans and soy products are slightly higher early Wednesday, while all three wheats are lower early on. The USDA announced another sale of 251,000 tons, or 9.2 million tons, of soybeans to China in 2023-24.
Posted at 11:33 am — Live cattle are up $0.93 in October to $181.825, feed cattle are up $1.18 to $250.6 in September, lean pork is up $1.95 to $82.625 in October $down, corn is down 3 cents a bushel in December and soybean meal is down $1.60 in December. The Dow Jones Industrial Average is down 181.81 points. With lower corn prices, both live and forage futures are higher. There is still no bar stock trading and at this point business will likely be delayed until Thursday if not Friday.
Posted 8:36 am — Live cattle are up $0.50 in October to $181.4, feed cattle are up $0.75 to $250.175 in September, lean pork is up $0.80 to $83.775 in October down, corn is up 1 1/4 cents a bushel in December and soybean meal is up $2.60 in December. The Dow Jones Industrial Average is up 4.91 points. Stronger tones found their way through the livestock complex early Wednesday as both the livestock and forage contracts traded higher. However, the market could be challenged as cash catering trade has still not developed and corn prices tend to rise slightly.
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