Posted 10:42 — Thursday morning early gains from the grain sector are gone. Corn in December is down 5 cents and soybeans are down 1 3/4 cents in January. Soybean meal in December is the only green listing up $5.20 on commercial buying. KC wheat in December is down 7 1/4 cents and Minneapolis wheat in December is down 1/4 cent, with shipments from Ukraine resuming after a mining spill on Wednesday. December crude oil is up $1.24 and Dow Jones futures are up 344 points. The US dollar index is up 0.56 even after the European Central Bank hiked interest rates to 2.00% from 1.25% as expected. The Fed is also expected to hike rates on Wednesday 2nd November.
Posted at 8:39 – After CDT open Thursday at 8:30, corn is up 2 1/2 cents in December and soybeans are up 7 3/4 cents in January. US corn export sales were disappointing at 10.4 million bushels (mb), but 37.7 mb soybean sales and 101.0 mb soybean shipments were impressive. December KC wheat is up 11 1/2 cents and December Minneapolis wheat is up 9 cents. US wheat shipments were light, but 19.6 million MB of sales last week helped improve year-on-year comparison. Dow Jones futures rose 367 points and the US dollar index rose 0.59 after the US Commerce Department said real GDP rose 0.6% in the third quarter and rose 1.8% reported slightly more than expected the previous year, RTTNews.com said. Crude Oil is up $1.41 in December and Gold is down $3.40 in December.
Posted at 11:52 am – December live cattle down $0.23 to $153.35, feed cattle January down $1.03 to $180.225, December lean hogs down $3.08 to $85.425, corn in December by 4 cents a bushel and soybean meal in December by $6.40. The Dow Jones Industrial Average is up 282.31 points. The Bar Cattle market has developed a weak trade move south to $150, which is $2.00 up from last week’s weighted average. The North has yet to see a cattle trade and the South’s market has been sparsely tested. Some asking prices remain stuck at around $151-$152 in the South and $155-$156 in the North.
Posted at 8:38am – Live cattle are up $0.13 in December to $153.7, feed cattle are up $0.28 in January to $181,525, lean hogs are up $0.45 in December to $88.05 , corn in December at 2 cents a bushel and soybean meal in December at $3.00. The Dow Jones Industrial Average is up 410.72 points. The net sales of beef of 14,100 tons for 2022 went mainly to South Korea (4,600 tons), Japan (2,700 tons) and China (2,600 tons). The net sales of pork of 20,300 tons went mainly to Mexico (16,900 tons), China (5,600 tons) and South Korea (1,400 tons).
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