(Illustration by Nick Scalise)
Posted 08:32 – Corn in December is down 2 1/2 cents a bushel, Soybeans in November are down 6 1/2 cents, KC Wheat in December is down 4 3/4 cents, Chicago Wheat in December is down 5 cents and Minneapolis December wheat is down 2 cents. The Dow Jones Industrial Average is down 336.61 points and October Crude Oil is up $0.74 a barrel. The US dollar index is up 0.290 and gold is down $8.40 an ounce in December. Grains and soybeans come under renewed selling pressure on concerns about the US and global economy. Crude oil briefly fell below $85 a barrel on widespread deflationary fears ahead of the US Federal Reserve’s likely 75 basis point hike in primary interest rates next week and the US dollar index nearing the high. The weather is conducive to expanding the US harvest, with mostly warm and dry weather coming from cask.
OMAHA (DTN) – Live cattle are down $0.23 in October to $145.4, feed cattle are down $0.65 in October to $180.275, lean hogs are down $0.33 in October to $95.725, corn in December at 4 3/4 cents a bushel and soybean meal in December $6.10. The Dow Jones Industrial Average is down 349.43 points. The cattle market got off to a poorer start to the day as traders seem to be a bit absent from the market. A little more trading could develop in the cash cattle market, but with Thursday’s trading, stable prices are likely.
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