Posted at 10:34am – Friday morning December corn is up 6 3/4 cents and November soybeans are up 21 cents and holding steady, supported by a hot and dry forecast that will bring some late stress to plants . December KC wheat is up 15 3/4 cents and December Minneapolis wheat is up 10 1/2 cents as all three US wheats find some support from prices near their respective 2023 lows. September Crude Oil is up $0.41 and Dow Jones futures are already 11 points ahead. The US Dollar Index is down 0.17 and Gold is up $6.60 in December.
Posted 08:34 – After Friday’s chime at 8:30am CDT, row crops are trading higher on seven days of hot temperatures and little rain. December corn was up 5 1/4 cents after the USDA reported that 4.4 million bushels of new crop corn were sold to Mexico. November soybeans are up 15 cents. In December, KC wheat is up 9 1/2 cents and in December Minneapolis wheat is up 6 1/2 cents as Hurricane Hilary is on track, possibly some rain to Idaho, Montana and the USA by Sunday to bring western Canadian prairies. Crude oil prices are up $0.42 in September and Dow Jones futures are down 144 points. The US Dollar Index is down 0.05 and Gold is up $8.60 in December.
Posted at 11:27am – October live cattle are up $0.68 to $179, feed cattle in September are up $1.00 to $248.125, lean hogs are up $2.95 to $82.1 in October , Corn is up 5 cents a bushel in December and Soybean Meal is up $6.00 in December. The Dow Jones Industrial Average is up 38.75 points. It may have been a gloomy week with little movement, but on Friday traders were fully supportive of the market as all three cattle contracts are trading higher again. The main line item to keep an eye out for this afternoon is the Cattle on Feed report, and specifically its placement data.
Posted 8:32 am — Live cattle are up $0.10 in October to $178.425, feed cattle are down $0.28 to $246.85 in September, lean pork is up $1.28 to $80.425 in October up, corn is up 4 3/4 cents a bushel in December and soybean meal is up $5.50 in December. The Dow Jones Industrial Average is down 206.86 points. Looking ahead to Friday’s market, it’s likely that there will be timid trading throughout the day in both the Live and Feed markets as traders pull back before seeing the Cattle on Feed report in the afternoon. More bar cattle trading is likely to occur, although at this point prices are expected to remain stable and follow the week’s trend.
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