(Illustration by Nick Scalise)
Posted 10:50 – Corn is up 2 1/2 cents and May soybeans are up 10 1/2 cents. May KC wheat is up 4 1/2 cents and May Minneapolis wheat is down 1/2 cent. Crude oil in April is up $0.13 and Dow Jones futures are up 203 points. The US dollar index is up 0.24 and gold is down $6.30 in April. Soybeans and soy products are moving higher, while corn and wheat have retreated from Wednesday morning’s highs. Prolonged drought in the southwestern plains and a dry forecast for central Brazil along with fund buying in wheat are driving markets.
Posted 08:35 – Corn is up 6 1/4 cents and May soybeans are down 2 cents. May KC wheat is up 18 1/4 cents and May Minneapolis wheat is up 14 3/4 cents. Crude oil in April is up $0.86 and Dow Jones futures are up 235 points. The US Dollar Index is up 0.31 and Gold is down $9.90 in April. The USDA reported another corn sale to China: 204,000 tons (8 million bushels) of corn was sold for 2022-23. That brings the March total to almost 122 mb of corn. Corn and wheat futures are both on fire early Wednesday, while soybeans and bean oil pause the move higher.
OMAHA (DTN) – As of Wednesday morning, June cattle are up $0.48 to $159.38 and May Feed cattle are up $1.33 to $202.13, trending back higher now as bank fears ease . June lean hogs are down $2.23 to $90.50 amid traders concerns. Corn is up 2 cents and May Soymeal is down $0.50. Dow Jones futures are up 231 points.
Posted at 08:34 – After the 8:30 CDT bell on Wednesday, June cattle are steady at $158.90 and May forage cattle are down $0.45 to $200.35. June lean hogs are down $0.88 to $91.85. Corn is up 6 1/2 cents and May Soybean Meal is up $2.00. Dow Jones futures are up 259 points as bank fears further ease outside pressure. Cash trading has yet to develop and more winter storms will sweep the Northern Plains later this week and early next.
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