(Illustration by Nick Scalise)
Posted at 8:35 am – March Corn is down 1 1/2 cents a bushel, March Soybeans are down 4 3/4 cents, KC March Wheat is down 7 1/4 cents, Chicago Wheat March is down 3 1/2 cents Minneapolis March wheat is down 5 1/2 cents. The Dow Jones Industrial Average is up 12.38 points and Crude Oil is down $0.57 a barrel in March. The US Dollar Index is down 0.070 and gold is up $0.70 an ounce in February. All crop markets are under pressure at the start of a correction, with wheat leading the way down. There is little news driving markets early Tuesday. Demand and weather in South America appear to be the focus, with US demand for corn and wheat being weak while demand for soybeans remains strong. The weather in Argentina will be characterized by a few isolated showers this week before becoming mostly drier again.
OMAHA (DTN) – April live cattle are down $0.18 to $163.175, March feed cattle are up $0.93 to $184.85, April lean hogs are up $0.23 to $86.75 $up, corn is down 1 3/4 cents a bushel in March and soybean meal is down $4.60 in March. The Dow Jones Industrial Average is down 32.78. The cash beef market is quiet Tuesday morning and there are no bids at this time. Some early prices from the South are above $158, but the Northerners have yet to set them. Any significant trading volume is likely to be delayed until Wednesday or later.
(c) Copyright 2023 DTN, LLC. All rights reserved.
Comments are closed.