Posted at 10:37 – July Corn is up 12 1/2 cents a bushel, July Soybeans are up 13 cents, July KC Wheat is up 16 1/4 cents, July Chicago Wheat is up 20 3/4 cents up and July Minneapolis wheat is up 23 3/4 cents. The Dow Jones Industrial Average is up 307.26 points and crude oil is up $0.13 a barrel in July. The US Dollar Index is down 0.010 and Gold is up $3.60 an ounce in June. Grain and soy markets are on fire, with wheat and corn leading the way. It seems traders have finally dismissed the notion that Russia is helping to boost Ukraine’s grain exports in any way. A fresh contract high in July has traders wondering if this is a double top or the start of another higher leg. Minneapolis wheat is pushing ideas that some of the crop may not be planted.
Posted at 8:40am – July Corn is up 9 cents a bushel, July Soybeans are up 1 3/4 cents, July KC Wheat is up 3 cents, July Chicago Wheat is up 8-1 /4 cents up and July Minneapolis wheat is up 18 cents. The Dow Jones Industrial Average is up 58.62 points and crude oil is down $0.07 a barrel in July. The US Dollar Index is down 0.110 and Gold is up $9.00 an ounce in June. Corn and Minneapolis wheat are both leading markets early Friday, while spot soybeans and produce are little changed in quiet trading ahead of the Memorial Day long weekend. Minneapolis New Crop Wheat is urging ideas that some spring wheat fields may not be planted in time, and wheat in general is stronger as far-fetched Russian help to open up export corridors for Ukrainian grain falls by the wayside.
Posted at 11:50 am — August live cattle down $0.43 to $132.175, August feed cattle down $0.68 to $166, July lean hogs down $0.05 to $111.775 down, corn is up 14 1/4 cents a bushel in July and soybean meal up to $5.40 in July. The Dow Jones Industrial Average is up 357.47 points. It was an uneventful day for the livestock complex as contracts for live cattle, beef cattle and lean hogs were all traded mixed. The cash cattle market has lost interest as the weekly business is essentially done. This week’s trading was lower and on light volume.
Posted at 8:40am – Live cattle in August are up $0.18 to $132.775, feed cattle in August are down $0.03 to $166.65, lean hogs in July are down $0.23 to 111 Down $.6, corn is up 5 3/4 cents a bushel in July and soybean meal is down $0.10 in July. The Dow Jones Industrial Average is up 68.09 points. Nearby lean hog contracts are having slight trouble ahead of the long weekend. After Thursday’s aggressive rally, traders could continue their rally or let the market fade into the weekend. No bids have been renewed at the Bar Cattle Market and it looks like most of the week’s trading is done.
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