Posted 10:38 – Corn is up 4 cents and May soybeans are down 6 cents. May KC wheat is down 7 1/4 cents and May Minneapolis wheat is down 9 cents. April crude oil is down $0.38 and Dow Jones futures are up 126 points. The US Dollar Index is down 0.17 and Gold is down $8.00 in April. The corn market is still very firm after the third new corn sale in as many days after China. Just this week new sales totaling 75.5 mb were announced and there are rumors that another 600,000 mt could be announced soon. Wheat, soybeans and flour are all lower, while bean oil is slightly higher as crude oil has stabilized somewhat.
Posted at 8:37 AM – Corn Corn is up 5 cents and Corn Soybeans are up 1 3/4 cents. May KC wheat is flat and May Minneapolis wheat is down 1 3/4 cents. April crude oil is down $1.22 and Dow Jones futures are down 226 points. The US Dollar Index is down 0.06 and Gold is up $3.50 in April. A new US corn sale to China for 2022-23 was announced for the third time this week. A new sale of 641,000 mt of corn makes it a total of 75.5 mb for the week. Corn is very firm to start the morning mixed with soybeans and wheat. Pressure from external financial markets mounts, crude oil falls again and the Dow Jones falls over 200 points.
Posted at 11:36am – April live cattle are up $1.08 to $162.625, April feed cattle are up $2.38 to $195.625, April lean hogs are up $1.50 to 82.25 $ down, corn is up 6 cents a bushel and May soybean meal is down $4.20. The Dow Jones Industrial Average is up 184.11 points. Finally, both livestock and forage contracts are finally trading higher after an incredibly tough, pushy week. Trading hasn’t moved on in the cash cattle market, but more sales need to move on by the end of the week.
Posted at 08:37 – April live cattle are up $0.13 to $161.675, April feed cattle are down $0.20 to $193.05, April lean hogs are down $0.48 to 83.275 $ down, corn is up 5 1/4 cents a bushel and May soybean meal is down $0.60. The Dow Jones Industrial Average is down 229.66 points. Beef net sales of 17,700 tonnes for 2023 were well above the previous week and up 24% from the previous week’s four-week average. The three largest buyers were South Korea (5,300 mt), Japan (3,200 mt) and Taiwan (2,600 mt). Net pork sales of 35,600 tonnes for 2023 were 62% higher than the previous week but 5% lower than the previous four-week average. The three largest customers were Mexico (9,900 t), Japan (6,400 t) and China (5,000 t).
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