Posted at 10:33 — In Friday morning trade, corn is up 2 1/4 cents in March and soybeans are down 3/4 cents in March, with soy meal futures trading higher and soy oil futures trading lower. March KC wheat is up 7 cents, March Chicago wheat is down 1 cent and March Minneapolis wheat is up 3 3/4 cents. Crude Oil is down $0.71 in March and the Dow Jones is down 3.64 points. The US Dollar Index is up 0.178 and Gold is up $0.40/oz in April. Weather is seen as a neutral factor for grain markets on Friday, with focus on Argentina’s precipitation forecast and the polar vortex, which is pushing Arctic temperatures into the central and southern plains. In front-end trading, only soybean futures traded above Thursday’s high, while grain futures will continue to close higher as the week progresses.
Posted at 8:34am — After Friday’s open at 8:30am CST, grains that used to be quietly mixed are now trading lower. March corn is down 2 cents and March soybeans are down 7 1/2 cents. Patchy snowfalls will fall across Iowa and Wisconsin Friday morning, but more significant precipitation over the next seven days will fall along the southeastern Gulf states and support barge movement on the lower Mississippi. KC March Wheat is down 4 cents and Minneapolis March Wheat is down 3 3/4 cents. Crude oil is up $0.99 in March and Dow Jones futures are down 29 points. The US dollar index is up 0.29 and gold is down $3.30 in April. The personal consumption spending index rose 0.1% in December and 5.0% year-on-year, the lowest annual rate since September 2021 but still well above the Fed’s 2% target.
OMAHA (DTN) – Live cattle are up $0.23 in April to $160.75, feed cattle are up $0.15 in March to $183, lean hogs are up $0.45 in April to $86.55, corn in March at 3/4 cents a bushel and soybean meal in March $2.70. The Dow Jones Industrial Average is up 95.33 points. The cash cattle market has yet to be traded in the South as the standoff between packers and feedlots deepens. Bids of $153 and $154 are offered, but that’s a far cry from Feedlot’s desired asking price of $157 plus.
Posted 08:33 — Live cattle in April are up $0.05 to $160.575, Feed cattle in March are up $0.20 to $183.05, Lean hogs in April are up $0.10 to 86, Down $9, corn is down 1 3/4 cents a bushel in March and soybean meal is down $4.10 in March. The Dow Jones Industrial Average is down 31.57 points. The barstock market is still waiting for the South to trade cattle as packers and feedlots have been at a standoff. Asking prices remain firm at $157 in the South and over $250 in the North. More trading should develop as the day progresses.
(c) Copyright 2023 DTN, LLC. All rights reserved.
Comments are closed.