(Illustration by Nick Scalise)
OMAHA (DTN) — Corn is down 1 1/2 cents in December and soybeans are up 4 cents in January after the CDT open at 8:30 am Monday. According to Dow Jones, archer Daniel Midlands earned $1.03 billion in the third quarter, helped by “margins driven by robust global demand for flour and oil.” KC December wheat is down 9 cents as rain falls from Oklahoma and Arkansas to Illinois early Tuesday. Minneapolis wheat in December is down 8 3/4 cents. December crude oil is up $0.47 and Dow Jones futures are down 55 points with multiple earnings reports due Tuesday. US Dollar Index is down 0.75 and December Gold is up $4.60.
Posted at 08:35 – December live cattle are stable, January feed cattle are up $0.38 to $182.325, December lean hogs are up $0.08 to $88, December corn is up 2-1 /2 cents a bushel down and soybean meal is stable in December. The Dow Jones Industrial Average is down 52.14 points. After entering the market in full force on Monday, the livestock complex is trading lower early on Tuesday, but both the lean hog and forage beef contracts are trading higher. The livestock market could trade as corn poses no immediate threat, and if traders see continued support in packaged beef prices and the cash market, trade could pick up again.
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This year’s DTN Ag Summit will be held virtually on the morning of December 12th and 13th, 2022. Please join DTN Senior Analyst Todd Hultman for insights into how long these high crop prices will last and what to watch for in the coming year. All details at www.dtn.com/agsummit
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