Posted 11:24 — Following the release of the USDA’s Prospective Planting and Quarterly Inventory Reports, corn is up 7 1/2 cents a bushel, May soybeans are up 27 1/2 cents, May KC wheat is up 5 1/4 up cents, May Chicago wheat is down 2 3/4 cents and May Minneapolis wheat is up 8 cents. The Dow Jones Industrial Average is up 284.73 points and May Crude Oil is up $1.21 a barrel. The US dollar index is up 0.320 and gold is down $2.60 an ounce in June. The USDA estimated higher acreage of all major crops, with corn planted at 92 million acres, ahead of expectations, while soybean acres are below average of preliminary estimates at 87.5 million acres, and wheat acres at 49.9 million acres above expectations. The USDA reported a year-over-year decline in grain inventories, with corn inventories falling 5% to 7,401 bb, below expectations, soybean inventories down 13% to 1,685 bb, below expectations and wheat inventories down 8% to 946 mb, slightly above expectations .
Posted 10:33 – In Friday morning trade, corn is up 6 1/4 cents a bushel, May soybeans are up 16 3/4 cents, May KC wheat is up 6 3/4 cents, May Chicago wheat is up 3 cents up /4 cents and May Minneapolis wheat is up 1 1/4 cents. The Dow Jones Industrial Average is up 225.04 points and May Crude Oil is up $0.62 a barrel. The US dollar index is up 0.290 and gold is down $2.00 an ounce in June. Grain markets posted further gains ahead of Friday morning’s USDA reports, with May soybeans showing move above their 100-day moving average, corn showing move above its 50-day moving average, while recent trade readings turned soybean flour into positive territory moved . Friday’s activity also represents weekend and month-end trading.
Posted at 8:35 am – Corn Corn is up 3/4 cents and Corn Soybeans are up 2 1/4 cents. May KC wheat is up 5 1/4 cents and May Minneapolis wheat is up 1/4 cents. April crude oil is up $0.85 and Dow Jones futures are up 154 points. The US Dollar Index is up 0.22 and Gold is up $2.10 in April. All grain and soy markets, excluding soy flour, are firmer to start ahead of the USDA’s 11 am expected planting and stocks report.
Posted at 11:26am — Friday morning June cattle are up $0.50 to $161.50 and May feed cattle are up $1.10 to $205.55, depressing after bullish cash trades on am Thursday near contract highs. June lean hogs are down $0.33 to $91.28, finding no cure for low hog prices nearby in Thursday’s report. Corn is up 7 1/2 cents and May Soybean Meal is up $5.60. Dow Jones futures are up 291 points.
Posted 08:34 — June cattle are up $0.15 to $161.15 and May feed cattle are up $0.28 to $204.73 after a day of higher cash trades. June lean hogs fell $0.63 to $90.98 after Thursday afternoon’s USDA report said all hog inventories on March 1 came in as expected at 72.86 million heads. The USDA also revised the Dec. 1 inventory up by 1.28 million pieces, explaining the recent bearish pressure on cash prices. Farrowing intentions were lower than expected. Corn is up 1/2 cent and May Soymeal is down $3.90. Dow Jones futures are up 162 points. Outside markets were calmer this week and were less disruptive to cattle prices.
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