(Illustration by Nick Scalise)
OMAHA (DTN) – The commodities board is still green as of Friday morning, with wheat prices leading contracts in the grain sector higher. December KC Wheat is up 35 3/4 cents with a mostly hot and dry forecast for much of the southwest US plains over the next two weeks. Minneapolis wheat in December is up 33 cents, also boosted by comments this week from Russian President Putin threatening to end Ukraine’s grain deal. Corn in December is up 10 1/4 cents and soybeans are up 18 3/4 cents in November ahead of Monday’s WASDE report, due at 11:00 am CDT. Crude oil in October is up $2.45 and Dow Jones futures are up 341 points. US Dollar Index is down 0.67 and December Gold is up $7.00.
Posted at 8:38am — After the CDT opens at 8:30am Friday, the merchandise board is mostly green. December corn is up 6 3/4 cents and November soybeans are up 20 1/4 cents after the USDA reported 3.8 million bushels (104,000 tons) of new crop soybeans were sold to Taiwan. December KC wheat is up 17 1/2 cents and December Minneapolis wheat is up 15 1/2 cents. Crude oil in October is up $2.15 and Dow Jones futures are up 186 points. The US dollar index slipped 0.77 after the European Central Bank hiked interest rates on Thursday and many were expecting a smaller hike in Tuesday’s US consumer price report. Gold in December is up $6.40.
Posted 08:38 — Live cattle in October are up $0.28 to $144.65, feed cattle in October are up $0.15 to $184.55, lean hogs in October are up $0.53 Down $91.6, December corn is up 7 1/2 cents a bushel and December soybean meal is up $4.00. The Dow Jones Industrial Average is up 198.76 points. After closing Thursday afternoon, livestock contracts start slightly higher on Friday. The Lean Hog complex is still trending down but given the lackluster interest on both technicals and fundamentals a lower close is expected on Friday.
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