(Illustration by Nick Scalise)
Posted 10:43 AM – Corn is up 7 3/4 cents and May soybeans are up 3 3/4 cents. May KC wheat is up 20 cents and May Minneapolis wheat is up 10 3/4 cents. April crude oil is down $1.33 and Dow Jones futures are down 196 points. The US dollar index is up 0.65 and gold is down $1.90 in April. The KC wheat market has rebounded from a run at the 100-day moving average but remains significantly higher despite earlier rumors that Russia would not halt exports. Corn is notably higher on more sales in China and rumors of additional deals.
Posted 08:34 – Corn is up 10 3/4 cents and May soybeans are down 1 1/4 cents. May KC wheat is up 39 1/4 cents and May Minneapolis wheat is up 26 cents. April crude oil is down $1.70 and Dow Jones futures are down 178 points. The US Dollar Index is up 0.53 and Gold is up $3.60 in April. Wheat flies higher with KC May climbing above the 50-day moving average. Corn is very firm in terms of further business in China. Soybean meal and oil have both recovered from overnight weakness. The USDA announced another package of corn sold to China: 204,000 mt (8 mb) of corn for 2022-23. This was the eighth sale in the past 11 days, totaling approximately 108mb of corn.
OMAHA (DTN) – June live cattle are up $0.98 to $156.775, feed cattle are down $0.95 to $197.65 in May, lean hogs are down $2.33 to 91.7 in June $up, corn is up 7 1/4 cents a bushel and May Soybean Meal is up $5.00. The Dow Jones Industrial Average is down 82.68 points. The livestock complex has found support as both livestock and lean hog contracts trade higher into Friday midday. Forage cattle contracts are trading lower as corn prices are trending up $0.08-$0.09 in nearby contracts.
Posted at 8:34 am — June live cattle down $0.33 to $155.475, May feed cattle down $0.75 to $197.85, June lean hogs up $0.43 Down $88.95, corn is up 10 3/4 cents a bushel and May Soybean Meal is up $1.00. The Dow Jones Industrial Average is down 160.33 points. As the market approaches the last trading day of the week, traders are once again cautious about livestock contracts. A little more cash cattle trading could develop, but it looks like the week’s business is done.
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