Posted 10:35 – Corn is up 4 1/2 cents and May soybeans are down 9 cents. May KC wheat is up 1/4 cent and May Minneapolis wheat is up 1/2 cent. April crude oil is down $3.39 and Dow Jones futures are down 486 points. The US Dollar Index is up 1.35 and Gold is up $19.80 in April. The soybean complex remains under severe pressure as crude oil has fallen sharply. So far, corn and wheat are up nearly 1.4 points despite pressure from a plummeting stock and crude oil market and the rise in the US dollar index. Global economic concerns appear to be trumping grain and soybean fundamentals right now.
Posted 08:34 – Corn is up 3 3/4 cents and May soybeans are down 8 1/4 cents. May KC wheat is up 3 1/4 cents and May Minneapolis wheat is up 2 3/4 cents. April crude oil is down $3.00 and Dow Jones futures are down 491 points. The US Dollar Index is up 1.31 and Gold is up $19.00 in April. Soybeans and bean oil have tumbled under pressure from the plummeting crude oil market, which took crude to nearly $68 a barrel in April. Corn is even firmer after it was announced that another 26.2mb of corn was sold to China, bringing the two-day total to 50.3mb. Rumors of further sales are circulating.
Posted at 11:36 am — April live cattle down $1.35 to $161.7, April feed cattle down $2.23 to $193.525, April lean hogs up $1.40 Down $84, Corn is up 6 1/2 cents a bushel and May Soybean Meal down $2.10. The Dow Jones Industrial Average is down 692.16 points. Some cash cattle trading has developed in both regions as feedlots are skeptical of the strength of the market amid a weakened futures complex. Live southern cattle are trading for $164, which is $1.00 cheaper than last week’s weighted average, and some live deals were also reported in eastern Nebraska for $164, which is $1.00 cheaper than the weighted average of the last week.
Posted at 8:37 am — April live cattle down $0.28 to $162.775, April feed cattle down $0.48 to $195.275, April lean hogs down $0.48 to $84.925 down, corn is up 4 3/4 cents a bushel and May soybean meal is down $0.40. The Dow Jones Industrial Average is down 524.89 points. The livestock market started weaker on Wednesday as traders continue to look for more fundamental support. Trading is unlikely to develop in the cash cattle market on Wednesday but could see some early bids.
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