(Illustration by Nick Scalise)
OMAHA (DTN) – Thursday morning the grains sector is mostly lower except for a $4.50 gain in soybean meal in March. March corn is down 4 1/4 cents and March soybeans are down 5 1/2 cents, both showing a reluctance to challenge new highs. KC Wheat in March is down 10 3/4 cents, erasing Wednesday’s gain after prices closed at a fresh two-month high with chances of rain in the 6-10 day forecast. Minneapolis wheat in March is down 5 3/4 cents. Outside markets are mostly quiet, Crude Oil is down $1.05 in March and Dow Jones futures are up 62 points. The US Dollar Index is down 0.36 and Gold is down $6.30 in April.
Posted at 08:35 — After Thursday’s open at 8:30 CST, soybeans and meal are trading higher again and continue to find support from Argentina’s hot and dry conditions. March soybeans are up 7 1/4 cents and March meals are up $5.10. Corn in March is down 1/2 cent. Thursday morning’s report of 45.7 million bushels of corn export sales was more than the weekly amount needed to meet the USDA target for 2022-23, but shipments are lagging far behind the pace. March KC wheat is down 5 cents and March Minneapolis wheat is down 2 cents. March crude oil is down $1.06 and Dow Jones futures are up 215 points. The US Dollar Index is down 0.70 and Gold is up $5.90 in April.
Posted at 08:34 – Live cattle are up $0.08 in April to $163.775, feed cattle are up $0.10 in March to $186.55, lean hogs are up $0.73 in April to $84.8 , Corn up 1 1/2 cents a bushel in March and Soybean meal up $4.40 in March. The Dow Jones Industrial Average is up 246.38 points. Net beef sales of 16,400 tons for 2023 went mainly to South Korea (4,400 tons), Japan (3,500 tons) and Mexico (2,700 tons). The net pork sales of 28,800 tons for 2023 went mainly to Mexico (12,700 tons), South Korea (4,700 tons) and China (3,400 tons).
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