(Illustration by Nick Scalise)
OMAHA (DTN) – Almost the entire commodities board starts green after Tuesday’s 8:30 a.m. CDT open, with US stocks and bonds showing another pause from interest rate worries, a risk-on start to the day. December corn is up 4 1/2 cents and November soybeans are up 16 1/4 cents after USDA said 20% of corn and 22% of soybeans were harvested on Sunday. December KC wheat is up 18 3/4 cents and December Minneapolis wheat is up 14 1/2 cents. According to the USDA, 40% of the winter wheat crop was grown. Light to moderate showers are expected across the southwestern plains this week, but the region needs plenty more. Crude oil in November is up $2.23 and Dow Jones futures are up 385 points. US Dollar Index is down 0.73 and December Gold is up $14.60.
Posted at 08:35 – Live cattle are up $0.28 in December to $148.3, feed cattle are up $0.25 to $176.3 in November, lean hogs are up $0.50 to $78.225 in December , corn in December at 3 cents a bushel and soybean meal in December at $2.30. The Dow Jones Industrial Average is up 400.52 points. The overall livestock sector is trading higher again on Tuesday morning, showing that the market is indeed poised to recover from last week’s deterioration. Asking prices in the South are $145 and the North is yet to disclose asking price, but feedlots are expected to price all cattle higher this week.
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