Posted 8:35 – December Corn is down 4 1/2 cents a bushel, January Soybeans are down 5 1/4 cents, March KC Wheat is down 8 cents, March Chicago Wheat is down 14 1/2 cent down and Minneapolis wheat in March is up 2 1/2 cents. The Dow Jones Industrial Average is down 82.63 points and crude oil is down $1.69 a barrel in January. The US Dollar Index is down 0.130 and Gold is down $5.10 an ounce in December. The USDA reported new soybean sales of 110,000 tons (4 million bushels) sold to undisclosed destinations for 2022-23. However, grain and soybean markets remain under severe pressure, impacted by rising COVID-19 cases and China’s adherence to the unrealistic zero-COVID policy and its demand-dampening effects. Chicago wheat continues to defy the lowest inventories in years and tumbles again.
Posted on Sunday November 27 at 7:06 am — Crop prices tend to start lower after Sunday night’s open. March corn is down 3 3/4 cents and January soybeans are down 8 1/4 cents. KC March Wheat is down 1 3/4 cents and Minneapolis March Wheat is up 1/2 cent. Moderate amounts of rain fell over the weekend from north Texas to central Illinois, including Oklahoma, Missouri and eastern Kansas, but missed other chronically dry HRW wheat areas. Crude Oil in January fell $0.62 on ongoing COVID concerns in China. Dow Jones futures are down 109 points, the US Dollar Index is up 0.27 and December Gold is down $3.50.
OMAHA (DTN) – Live cattle down $0.33 to $154.8 in February, feed cattle down $0.48 to $177.825 in January, lean hogs down $2.78 to $85.725 in February, corn in December by 1/4 cent a bushel and soybean meal in January by $6.50. The Dow Jones Industrial Average is down 266.33 points. Last week’s negotiated bar stock trade sold 94,864 head. Of these, 85% (80,957 pieces) were destined for nearby delivery, while the remaining 15% (13,907 pieces) were destined for delayed delivery. With packers delivering 85% of last week’s trade to nearby delivery, it’s safe to assume packers are grossly underpaid at cattle. Prices are likely to be higher again this week.
Posted 08:34 — February live cattle are up $0.10 to $155.225, January feed cattle are up $0.78 to $179.075, February lean hogs are down $0.83 to $87.675, Corn in December is down 4 3/4 cents a bushel and soybean meal in January is up $2.20. The Dow Jones Industrial Average is down 152.04 points. Cattle contracts got off to a stronger start on Monday as the market continues to recover from last week’s extremely strong cash cattle market. However, the lean hog complex is holding on to last week’s lower trend as the market questions how strong demand will be this week.
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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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