(Illustration by Nick Scalise)
OMAHA (DTN) – After Thursday’s 8:30 a.m. open, corn and wheat prices are higher while the soybean complex remains under pressure. Corn in May is up 7 1/4 cents, helped by the USDA, which reported 121.9 million bushels in US corn export sales for the last week, the highest weekly total since September 2021. The USDA then added another 4, 8-million-bushel sale of old-crop corn added China at 8 p.m. CDT. May soybeans are down 8 cents. KC wheat in May is up 9 1/4 cents, starting higher after Wednesday’s roller coaster action in KC wheat prices. May Minneapolis wheat is up 8 1/2 cents. May crude is up $0.43 and Dow Jones futures are up 164 points, a day after the Fed hiked interest rates by a quarter percent. The US Dollar Index is down 0.10 and Gold is up $29.50 in April.
Posted 08:35 — Live cattle in June are up $0.05 to $155.95, feed cattle in April are up $0.05 to $194.425, lean hogs in June are up $0.35 to $89 down, corn is up 9 cents a bushel and May soybean meal is up $1.80. The Dow Jones Industrial Average is up 133.47 points. Net beef sales of 18,600 tonnes for 2023 were 5% higher than the previous week and 59% higher than the previous four week average. The three main customers were South Korea (10,800 tons), Japan (3,600 tons) and China (1,500 tons). Pork net sales of 38,000 tons for 2023 increased 7% from the previous week and 8% from the previous four-week average. The three main customers were Mexico (18,400 tons), Canada (4,800 tons) and Japan (4,400 tons).
(c) Copyright 2023 DTN, LLC. All rights reserved.
Comments are closed.