Posted at 8:34 am – March corn is up 3 cents a bushel, January soybeans are down 22 cents, March KC wheat is up 12 1/2 cents, March Chicago wheat is up 15 cents and March Minneapolis wheat is up increased by 6 cents. The Dow Jones Industrial Average is up 126.58 points and crude oil is up $1.22 a barrel in January. The US Dollar Index is down 0.010 and Gold is down $10.90 an ounce in February. Wheat and corn continue to react positively to news of the weekend’s drone attack on the port of Odessa, while the entire soybean complex is under pressure, led by the bean meal collapse, as Argentina had much heavier rains than forecast over the weekend.
Posted Sunday December 11 at 7:04pm CST – March Corn is up 1 1/4 cents a bushel, January Soybeans are down 7 cents, March KC Wheat is 6 1/4 cents up, March Chicago wheat is up 6 1/4 cents and March Minneapolis wheat is up 2 3/4 cents. The Dow Jones Industrial Average is down 0.35 points and crude oil is up $0.62 a barrel in January. The US Dollar Index is up 0.35 and gold is down $6.90 an ounce in February. The weekend’s big news was better-than-expected rains in arid areas of Argentina, with some moisture in Rio Grade do Sul. Russia stepped up attacks on Ukraine’s energy infrastructure in eastern and southern Ukraine over the weekend, and drone strikes hit the port of Odessa. According to reports, the port of Odessa may not be operational, which will affect Ukrainian grain shipments. Wheat has firmed on this news.
Posted 11:46 — Live cattle in February are up $0.38 to $155.925, feed cattle in January are down $0.83 to $183.1, lean hogs in February are down $0.65 to 83, Down $35, corn is up 9 3/4 cents a bushel in March and soybean meal is down $20.10 in January. The Dow Jones Industrial Average is up 319.27 points. With only 59,000 head traded at last week’s negotiated bar stock market and 90% of that purchase is for nearby delivery, it’s likely packers will need to be active at this week’s market as well. Higher packaged beef prices are also helping live cattle contracts trade higher through Monday afternoon.
Posted 08:34 — Live cattle in February are up $0.20 to $155.75, feed cattle in January are down $0.43 to $183.5, lean hogs in February are up $0.38 Down $83.625, corn is up 4 1/2 cents a bushel in March and soybean meal is down $12.90 in January. The Dow Jones Industrial Average is up 129.11 points. The livestock sector got off to a mixed start as the market takes a cautious note of the strong $0.04 rally in corn early on Monday. If cattle are to trade higher, they need to see some relief from the grain sector and ample support from market fundamentals.
**
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
(c) Copyright 2022 DTN, LLC. All rights reserved.
Comments are closed.