Posted 10:36 – Corn in March is down 8 1/4 cents a bushel, Soybeans in January are up 11 1/2 cents, KC Wheat in March is down 16 3/4 cents, Chicago Wheat in March is down 14 1/2 cents and Minneapolis wheat in March is down 9 3/4 cents. The Dow Jones Industrial Average is down 143.13 points and crude oil is up $0.12 a barrel in January. The US dollar index is up 0.190 and gold is down $9.50 an ounce in February. Wheat and corn continue to melt due to poor export profile and mostly bearish near-term South American weather. Soybeans are much firmer but have only recovered a quarter of Thursday’s losses. Soy meal is still the only strong pillar of the soy complex.
Posted 8:38 – March Corn is down 4 1/4 cents a bushel, January Soybeans are up 3 3/4 cents, KC March Wheat is down 23 cents, March Chicago Wheat is up 17 1/4 cent down and Minneapolis wheat in March is down 10 cents. The Dow Jones Industrial Average is down 304.23 points and crude oil is up $0.38 a barrel in January. The US dollar index is up 0.330 and gold is down $17.00 an ounce in February. Grain and soybean markets, excluding beans and meal, are falling again, due to weak corn and wheat exports, favorable near-term weather in South America and general disappointment with EPA’s proposed biofuel volume commitments. The stock market is under severe pressure, although November job vacancies come in at 263k, much higher than expected as rising wages thwart the Fed’s efforts to cool inflation.
Posted at 11:35am – Live cattle are up $0.45 in February to $155.875, feed cattle are up $1.53 to $182.6 in January, lean hogs are up $0.25 to $89.45 in February , corn up 12 cents a bushel in March and soybean meal up $0.40 in January. The Dow Jones Industrial Average is down 76.11 points. At noon the livestock trade is rather quiet. Hog market watchers will continue to monitor demand and availability of market-ready hogs. If demand falls due to a weakening global economy, this will likely put additional pressure on prices.
Posted 08:38 — February live cattle are up $0.03 to $155.45, January feed cattle are up $0.48 to $181.55, February lean hogs are up $0.55 Down $88.65, corn is down 7 1/2 cents a bushel in March and soybean meal is up $0.10 in January. The Dow Jones Industrial Average is down 232.45 points. So far this week, livestock sales from the South have been marked largely at $155, which is entirely consistent with last week’s weighted averages. While deals from the north were predominantly valued at $249, up $4 from the previous week’s weighted average. Overall weekly trading volume is looking a bit weak in Nebraska and Iowa and more trades are likely to have to happen in that area sometime on Friday. Asking prices for cattle on show lists are over $157 in the South and between $150 and $152 in the North.
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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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