Posted 10:37 – Corn is up 1/4 cents and May soybeans are up 16 1/4 cents. May KC wheat is up 10 1/2 cents and May Minneapolis wheat is up 10 1/2 cents. Crude oil in April is up $0.54 and Dow Jones futures are up 69 points. The US Dollar Index is down 0.43 and Gold is up $15.60 in April. Kansas City soybeans, soy flour and wheat led Tuesday morning’s gains. On a day of weak news, Friday morning traders await the week-end prospective planting and March 1 stock report. The funds have stopped liquidating long positions in beans and meal and appear to be covering short positions in wheat.
Posted 08:35 – Corn is up 1 1/2 cents and May soybeans are up 7 cents. May KC wheat is up 10 cents and May Minneapolis wheat is up 3 cents. April crude oil is down $0.20 and Dow Jones futures are down 35 points. The US Dollar Index is down 0.27 and Gold is up $9.00 in April. The USDA announced another 136,000 mt (5.4 mb) of new corn sales to China in 2022-23. That brings the total flash sales announced in the last 11 days to nearly 114MB to China, with additional sales to unknown. Kansas City wheat continues to rise after rising nearly $1.00 in the past seven days.
Posted at 11:29 am — Live cattle in June are down $0.03 to $158.85, feed cattle in May are down $0.28 to $201.1, lean hogs in June are down 1.50 $down to $91.575, corn down 1/2 cent a bushel in May and soybean meal up $10.40 in May. The Dow Jones Industrial Average is up 49.62 points. As the market approaches midday, live cattle contracts are holding on to Monday’s momentum with both feed beef and lean hog contracts trending lower. The asking prices in the south are between 165 and 166 US dollars, but are not yet established in the north. Trading will likely be delayed until sometime after Wednesday.
Posted at 8:38 — June livestock futures are stable, feed cattle are down $0.30 in May to $201.075, lean hogs in June are down $0.38 to $92.7, corn is up Up 1 1/2 cents a bushel and May Soybean Meal is up $6.10. The Dow Jones Industrial Average is down 26.79 points. Both the livestock and forage markets are seeing support in their deferred contracts, but the market’s nearby contracts are experiencing a slight setback. After closing significantly higher on Monday afternoon, it makes sense that traders are pulling back and looking for support to justify trading higher again on Tuesday.
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