Posted at 10:36 am — Thursday morning grain prices are lower across the grain sector after corn, soybeans and KC wheat were hit by strong selling volume every 20 minutes after the 8:30 am CST bell. May corn is down 9 3/4 cents and May soybeans are down 10 3/4 cents. Early Thursday morning, Brazil’s Conab cut its estimate of soybean production to 151.4 million tons, slightly below the USDA estimate of 153.0 million tons. For corn production, the Crop Authority increased its estimate to 124.7 million tons, close to the USDA estimate of 125.0 million tons. May KC wheat is down 17 3/4 cents and May Minneapolis wheat is down 10 3/4 cents. Crude oil in April is up $0.49 and Dow Jones futures are up 54 points. The US Dollar Index is down 0.42 and Gold is up $13.70 in April. Snow falls across the Northern Plains and includes Iowa.
Posted at 8:34 am — After opening Thursday at 8:30 am CST, corn corn is down 1/2 cent and corn soybeans are up 5 3/4 cents. The USDA last week reported 55.6 million bushels of old crop corn sold for export and high shipments of 41.4 million bushels for the marketing year. Soybeans saw a small net cancellation this week, which was later offset by an announcement of 6.8 million bushels of old crop soybeans sold to unknowns. May KC wheat is down 5 3/4 cents and May Minneapolis wheat is up 3 1/2 cents. Crude oil in April is up $0.79 and Dow Jones futures are up 133 points. The US Dollar Index is down 0.33 and Gold is up $11.70 in April.
Posted at 11:45am – April live cattle down $0.58 to $164.875, April feed cattle down $1.03 to $199.05, April lean hogs down $1.28 to 84.475 $ down, pork trimmings down $0.64 to $87.66, corn in March is down 10 1/2 cents a bushel and March soybean meal is down $2.40. The Dow Jones Industrial Average is up 2.63 points and the NASDAQ is up 16.12 points. Trade in the cash cattle market has not yet developed. Asking prices in the south remain firm above $16 but are still not established in the north. Trading could start to develop on Thursday afternoon, but trading is more likely to be halted at that point until Friday.
Posted at 08:33 – April live cattle down $0.20 to $165.25, April feed cattle down $0.10 to $199.975, April lean hogs down $0.33 to $85.425 $ down, corn is down 1/4 cent a bushel and May soybean meal is up $3.80. The Dow Jones Industrial Average is up 128.98 points. Beef net sales of 5,600 tonnes for 2023, a marketing year low, were 31% below last week’s and 67% below last week’s four-week average. The three largest buyers were Japan (3,200 mt), Mexico (1,400 mt) and China (500 mt). Pork net sales of 22,100 tonnes for 2023 were 29% below last week’s and 44% below last week’s four-week average. The three largest buyers were Mexico (10,700 mt), South Korea (3,800 mt) and Colombia (1,200 mt).
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