Posted at 10:32 – December Corn is down 8 1/2 cents a bushel, November Soybeans are down 16 cents, December KC Wheat is down 10 1/2 cents, September Chicago Wheat is up Down 15 cents and Minneapolis wheat is down 10 cents in September 1/4 cent. The Dow Jones Industrial Average is down 266.21 points and Crude Oil is down $1.58 a barrel in September. The US Dollar Index is down 0.180 and Gold is down $5.10 an ounce in December. Grain and soybean markets, excluding bean oil, are down significantly due to external market pressures and improving corn and soybean harvest conditions. Pressure on financial markets comes from more bad economic news from China as the post-Corona recovery falters. In December, corn broke the recent low of $4.81 set in July.
Posted 8:33 am – December Corn is down 4 cents a bushel, November Soybeans are down 4 1/2 cents, KC December Wheat is down 4 1/2 cents, September Chicago Wheat is up Down 9 1/4 cents and Minneapolis wheat for September is down 3 1/4 cents. The Dow Jones Industrial Average is down 122.22 points and Crude Oil is down $0.87 a barrel in September. The US Dollar Index is down 0.270 and Gold is down $8.80 an ounce in December. Corn, soybeans and wheat are all under pressure on Tuesday, driven by a rise in crop ratings, particularly soybeans, with the good-to-excellent share of the national crop rising 5 points to 59%. Another pressure on the markets is the weakening Chinese economy. Bloomberg reported that industrial production, retail sales, investment and the unemployment rate were all worse than expected, causing the rate to fall.
Posted at 11:40 am — Live cattle down $0.88 in October to $179.8, feed cattle down $0.38 in September to $249.75, lean pork up $0.38 in October down to $78.775, December Corn is down 9 cents a bushel and December Soybean Meal is down $9.80. The Dow Jones Industrial Average is down 304.57 points. While both the livestock and lean hog contracts are trading lower, the feedstock complex is trading higher thanks to support from cheaper corn prices. It is likely that the livestock farm will become increasingly cautious as the week progresses as another report on the Cattle on Feed release is released on Friday.
Posted 8:38 AM — Livestock is down $0.05 in October to $180.625, forage cattle is down $0.48 to $249.65 in September, lean hogs are down $0.10 to $79.05 in October down, corn is down 4 1/2 cents a bushel in December and soybean meal is down $5.90 in December. The Dow Jones Industrial Average is down 136.83 points. Livestock also starts lower Tuesday morning as traders remain cautious market participants. Fortunately, corn prices are trending down too, which shouldn’t put additional pressure on the beef complex.
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