Posted at 11:28 am – Corn up 11 cents a bushel in December, soybeans down 29 1/2 cents in November, KC wheat in December up after the release of the USDA Quarterly Stocks Report and Small Grains 2022 Summary Up 25 1/4 cents, December Chicago wheat is up 24 1/2 cents and Minneapolis wheat is up 16 3/4 cents in December. Today’s reports show corn stocks 1.38 barrels below expectations on September 1, soybean stocks 274 barrels above expectations and wheat stocks slightly below expectations at 1.776 barrels. Wheat production was estimated at 1.65 bb, below expectations, only slightly higher than 2021. Winter wheat production at an estimated 1.1 bb and other spring wheat production at 482 mb were both below expectations. Crude oil futures are down 96 cents a barrel, the US Dollar Index is up 0.142 and the Dow Jones Industrial Index is up 162.1 points in volatile foreign trade.
Posted 10:34 — In morning trade in December, corn is up 12 3/4 cents a bushel, soybeans are up 11 3/4 cents in November, KC wheat is up 12 cents in December, Chicago wheat is up in December is up 14 1/2 cents and December Minneapolis wheat is up 8 1/4 cents. Wheat futures led row crops higher ahead of the 11:00 CDT report release, though gains have eased as tensions rise in the Black Sea region. Crude oil futures are down 92 cents a barrel, the US Dollar Index is down 0.189 and the Dow Jones Industrial Index is up 92.2 points. The Associated Press has reported that the US has imposed further sanctions on more than 1,000 people and companies linked to the invasion of Ukraine following Russia’s annexation of four regions of Ukraine, amid a US dollar reversal in the US negative territory offered additional support to the grains.
Posted at 8:37 — Open December corn is up 2 1/2 cents a bushel, soybeans are up 2 cents in November, KC wheat is up 3 3/4 cents in December, Chicago wheat is up 4 cents in December and Minneapolis in December wheat is up 1/2 cent. Markets are bracing for the USDA’s Quarterly Grain Stocks Report for inventories as of September 1, due at 11:00 am CDT, including the Small Grains Summary of Final 2022 Wheat Production. Also on the radar for all markets is the news that Russian President Putin on Friday signed an agreement to annex four occupied Ukrainian regions and how this affects the current war with Ukraine. Crude oil futures are down 65 cents a barrel, the US Dollar Index is up 0.207 and the Dow Jones Industrial Index is down 67.36 points.
Posted 11:34 — December live cattle down $0.95 to $146.825, November feed cattle down $2.73 to $175.1, December lean hogs down $0.43 to 76, Up $15, corn is up 13 1/4 cents a bushel in December and soybean meal is down $1.60 in December. The Dow Jones Industrial Average is down 119.03 points. The cattle complex is under some pressure as traders look for continued support after helping the market close higher on Thursday afternoon. But with the onset of higher corn prices, traders have backed out of contracts as they want to better understand how corn prices are going.
Posted 08:37 — December live cattle are up $0.10 to $147.875, November feed cattle are down $0.53 to $177.3, December lean hogs are up $1.03 to 76, Up $75, December corn is up 2 1/4 cents a bushel and December soybean meal is up $2.50. The Dow Jones Industrial Average is down 55.98 points. As the lean hog complex absorbs Thursday’s earnings report, lean hog contracts are trending slightly higher through Friday morning. After closing higher on Thursday afternoon, livestock contracts are now trading slightly lower as they look for support again.
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