(Illustration by Nick Scalise)
OMAHA (DTN) — July corn is down 16 3/4 cents a bushel, July soybeans are down 22 1/4 cents, July KC wheat is down 3 cents, July Chicago wheat is down 2 Up 1/4 cent and July Minneapolis wheat is down 3 3/4 cents. The Dow Jones Industrial Average is down 203.41 points and crude oil is up $1.52 a barrel in June. The US Dollar Index is down 0.220 and Gold is up $8.20 an ounce in June. With a warmer and drier forecast for next week, the Funds are taking some risk off the table in corn and soybeans. The funds are estimated to have sold an estimated 10,000 contracts of beans and 12,000 of corn by midday, while also selling soy products. Wheat rebounded early with Minneapolis making another new high, but KC and Minneapolis are now down.
Posted at 8:40 – Following Friday’s 8:30 CDT open, row crops are trading lower, pressured by a forecast of warmer weather and generally better planting conditions. July corn is down 7 1/4 cents and July soybeans are down 18 cents. KC Wheat in July is up 10 1/4 cents after rebounding from a lower early start with continued support from poor US harvest conditions. The US Dollar Index is down 0.36 and June Gold is up $2.40. The US Department of Labor said nonfarm payrolls rose by 428,000 in April, slightly more than expected.
Posted at 11:35 am — June live cattle down $0.50 to $133.275, August feed cattle up $0.90 to $175.275, June lean hogs up $2.65 to $104.425 corn is down 13 cents a bushel in July and soybean meal is down $1.90 in July. The Dow Jones Industrial Average is down 188.70 points. Taking advantage of the weaker corn market on Friday, feed cattle contracts are trading higher, but otherwise it’s a lower trending day for the livestock sector. The livestock complex cannot muster support and the swine complex is declining as the announcement of African swine fever in Rome shook the market.
Posted at 8:40 am — Live cattle in June are up $0.08 to $133.85, feed cattle in August are up $0.83 to $175.2, lean hogs in June are up 0.38 $down to $106.7, corn is down 7 1/4 cents a bushel in July and soybean meal is down $2.10 in July. The Dow Jones Industrial Average is down 178.38 points. Livestock contracts are hoping their decline doesn’t send their markets down too much before the weekend but know lower trading is likely. The lean hog complex is mostly trading higher despite spot June contracts taking a slight setback.
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