Posted 11:24 – Following the release of the January WASDE, Grain Stocks and Winter Wheat Seedings reports, corn is up 15 1/2 cents a bushel in March, soybeans are up 29 1/4 cents in March, KC wheat in the March is up 6 1/4 cents, March Chicago wheat is down 1 1/4 cents and March Minneapolis wheat is up 12 3/4 cents. The Dow Jones Industrial Average is up 269.55 points and crude oil is up $1.14 a barrel in February. The US Dollar Index is down 0.767 and gold is up $19.10 an ounce in February. USDA estimates for US ending corn, soybeans and wheat inventories came in below expectations and were viewed as bullish for all three crops, while global corn inventories were estimated at volumes below expectations, global soybeans at volumes above expectations and global wheat was estimated close to the volume expected in surveys prior to the report.
Posted 10:31 — In morning trade ahead of today’s USDA reports March Corn is down 3 1/4 cents a bushel, January Soybeans are up 7 1/2 cents, KC March Wheat is up 7 1/ Down 4 cents, Chicago March wheat is down 11 1/2 cents and March Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is up 136.77 points and crude oil is up $1.48 a barrel in February. The US Dollar Index is down 0.590 and gold is up $15.70 an ounce in February. DTN’s market weather factors have switched to bullish for the corn and soybean markets, with only scattered showers forecast for Argentina in the coming week. Grain gains were trimmed or losses extended ahead of Thursday’s data release, although soybeans remain above $15, helped by higher trading in both products, with soy flour hitting a new contract high earlier in the session in March.
Posted 8:36 – Corn in March is up 1/2 cent a bushel, January soybeans are up 14 1/2 cents, KC wheat in March is down 2 1/4 cents, Chicago wheat in March is up Down 3 1/4 cents and March Minneapolis Wheat is up 1 1/2 cents. The Dow Jones Industrial Average is up 35.61 points and crude oil is up $1.51 a barrel in February. The US Dollar Index is down 0.660 and gold is up $18.50 an ounce in February. Soy complex leads the way higher ahead of January USDA and WASDE report. Pessimistic production estimates from Argentina’s two grain exchanges support corn and beans in particular. Soybean meal jumped to another new contract high early Thursday.
Posted at 11:31am – Live cattle down $0.60 in February to $157.15, feed cattle down $1.63 to $183.925 in March, lean hogs down $0.60 to $78.7 in February , corn in March at 15 cents a bushel and soybean meal in March at $7.80. The Dow Jones Industrial Average is up 291.59 points. In the cash cattle market, bids range from $154 to $155 live in Kansas and $156 live and $250 dressed in Nebraska. But at this point these prices are a far cry from the feedlots’ asking prices. Asking prices remain firm at $158-$159 in the South and $253+ in the North.
Posted at 8:34am – Live cattle are up $0.20 in February to $157.95, feed cattle are down $0.05 to $185.5 in March, lean hogs are down $0.38 to $79.675 in February $up, corn up 1/2 cent a bushel in March and soybean meal up $5.20 in March. The Dow Jones Industrial Average is up 48.34 points. Net sales of beef for the 2023 market year, which began on January 1, totaled 13,300 tons and was mainly destined for Japan (4,800 tons), China (3,400 tons) and South Korea (1,700 tons). Net pork sales for marketing year 2023 totaled 13,100 tons and were mainly destined for Mexico (4,700 tons), Japan (3,500 tons) and South Korea (1,400 tons).
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