Posted 11:31 — Following the release of the September WASDE report, corn is up 6 1/4 cents a bushel in December, soybeans are up 53 cents in November, KC wheat is up 1 3/4 cents in December and Chicago- December Wheat down 6 1/2 cents and Minneapolis December Wheat is down 1 1/2 cents. The Dow Jones Industrial Average is up 154.4 points and crude oil is up $1.72 a barrel in October. The US Dollar Index is down 0.806 and gold is up $16.20 an ounce in December. Monday’s WASDE report saw the corn crop estimate lower by 1 million acres, while the average yield was reduced to 172.5 bpa, as expected. Estimated ending corn stocks for 2022-23 are 1.219 billion bushels, ahead of expectations. Estimated soybean acres harvested were reduced by 600,000 acres while estimated yield decreased 1.4 bpa to 50.5 bpa, below expectations. Estimated soybean output of 200 mb is well below expectations while it would be the lowest in seven years. US ending wheat stocks were flat at 610 mb. Global corn and wheat inventories were estimated at levels above expectations, while soybean inventories for 2022-23 were below expectations.
Posted 10:30 — In morning trade December corn is down 5 cents a bushel, November soybeans are up 5 3/4 cents, December KC wheat is down 9 3/4 cents, December Chicago wheat is down 17 1/2 cents and December Minneapolis wheat is down 15 1/2 cents. The Dow Jones Industrial Average is up 292.52 points and crude oil is up $1.12 a barrel in October. The US Dollar Index is down 0.813 and gold is up $12.10 an ounce in December. Row crop prices have held steady ahead of the USDA’s WASDE release in September, while selling pressure extended losses in wheat futures. For the week ended September 8, corn export inspections were 17.6 mb and soybean inspections were 12.1 mb. Wheat inspections were reported at 27.1 mb, with cumulative inspections down 11% year-on-year.
Posted at 8:34am – December Corn is down 3 1/2 cents a bushel, November Soybeans are up 7 cents, December KC Wheat is down 2 cents, December Chicago Wheat is up 3-3 /4 cents down and December Minneapolis Wheat is down 5 1/4 cents. The Dow Jones Industrial Average is up 144.57 points and crude oil is up $1.66 a barrel in October. The US Dollar Index is down 0.710 and gold is up $10.60 an ounce in December. Markets are little changed early Monday ahead of September’s WASDE report, with soy complex starting firm and corn and wheat slightly lower. The focus will likely be on corn, with yield, production and crop declines likely.
Posted Sunday at 7:09 PM – December Corn is down 4 3/4 cents a bushel, November Soybeans are down 5 3/4 cents, December KC Wheat is down 6 1/2 cents, Chicago December wheat is down 7 cents and Minneapolis December wheat is down 7 1/2 cents. The Dow Jones Industrial Average is up 45 points and crude oil is down $0.73 a barrel in October. The US Dollar Index is down 0.220 and gold is up $0.10 an ounce in December. Grains and soybeans start Monday slightly ahead of Monday’s all-important WASDE report. The coming week looks set to be very volatile with the report followed by the Labor Department’s inflation report on Tuesday and talk of a possible rail strike as union talks collapsed. There was some rain over the weekend but the west and plains remain dry.
Posted at 11:39am – Live cattle in October are up $0.15 to $145.825, feed cattle in October are down $1.65 to $183.925, lean hogs in October are down $1.03 to 92.15 $ down, December corn is up 8 3/4 cents a bushel and December soybean meal is up $20.10. The Dow Jones Industrial Average is up 191.18 points. The livestock complex is trading higher as traders hope the livestock market will see higher prices this week. Given the speed at which the packaging lines are running, there is no doubt that packers will need more cattle if they are to keep up this pace.
Posted at 08:37 – Live cattle up $0.20 in October to $145.875, feed cattle up $0.33 in October to $185.9, lean hogs up $0.05 in October to $93.225, corn in December at 3 cents a bushel and soybean meal in December at $3.00. The Dow Jones Industrial Average is up 145.39 points. The corn complex starts the week lower, but livestock and forage contracts are trending higher at the start of Monday. Feedlots are hoping to see more interest in this week’s cash market as the packers have been working diligently to suppress the market around Labor Day weekend.
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