Posted at 10:42 am – Tuesday morning crop prices remain mostly higher on volatility in the soybean complex. The USDA reported corn and soybean inspections slightly higher than the previous week. March corn is up 6 1/2 cents, March KC wheat is up 7 1/2 cents and March Minneapolis wheat is up 3 3/4 cents. March soybeans were 38 cents higher just after the 8:30am CST open but are now up 11 cents. A previous gain in March Soybean Meal is now down $4.60 while March Soybean Oil is trading 2.12 cents higher. February crude oil is up $1.33 despite all the media concerns about COVID in China. Dow Jones futures are up 128 points, the US Dollar Index is down 0.23 and gold is up $25.10 in February.
Posted at 8:35 am – March Corn is up 4 cents a bushel, January Soybeans are up 20 cents, March KC Wheat is up 6 3/4 cents, March Chicago Wheat is up 4 3/4 cents and March Minneapolis wheat is up 5 cents. The Dow Jones Industrial Average is up 71.57 points and crude oil is up $0.48 a barrel in February. The US Dollar Index is up 0.010 and Gold is up $7.60 an ounce in February. The USDA reported one new sale of U.S. corn to Japan, but only 7,500 tons (295,000 bushels) were destined for 2022-23, with the remainder of 170,000 tons (6.7 million tons) for the 2023-24 crop year. Soybeans and Meal are up, leading all grain and soy markets to a strong post-Christmas start.
Posted 11:34 — February live cattle are stable, March feed cattle are down $1.08 to $185.675, February lean hogs are up $2.85 to $90.675, March corn is up 7 1/ Up 4 cents a bushel and soybean meal down $4.00 in March. The Dow Jones Industrial Average is up 114.87 points. The lean hog complex continues to rally into Tuesday afternoon as the market is buoyed that lower supply could boost prices in the coming year. Meanwhile, both livestock and feedstock contracts are still trading lower as Friday’s Cattle on Feed report was tepid for the market.
Posted at 8:35am – Live cattle in February are down $0.05 to $157.7, feed cattle in March are down $0.15 to $186.6, lean hogs in February are down $1.88 up to $89.7, corn is up 2 cents a bushel in March and soybean meal is up $6.10 in March. The Dow Jones Industrial Average is up 15.36 points. Both the live and forage cattle contracts are trading slightly lower as the market absorbs Friday’s lukewarm Cattle on Feed report. Meanwhile, the Lean Hog complex is using Friday’s supportive Hogs and Pigs report as a vehicle to trade higher into Monday’s start.
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