Posted 10:33 – Corn is up 3 1/4 cents and May soybeans are up 1 3/4 cents. May KC wheat is up 3 1/2 cents and May Minneapolis wheat is up 2 cents. Crude oil in April is up $1.27 and Dow Jones futures are up 26 points. The US Dollar Index is down 0.57 and Gold is up $3.50 in April. On a quiet news day after Tuesday’s WASDE report, grain and spot soybean futures are slightly higher, while soy products are lower. Calendar spreads on both corn and soybeans are reversing even more, reflecting tight supplies and the strong domestic base.
Posted at 8:36am – After opening Wednesday, May corn is up 1/2 cents a bushel, May soybeans are down 3 1/4 cents, KC wheat is 7 1/2 cents in May up, May Chicago wheat is up 5 3/4 cents and May Minneapolis wheat is up 4 1/2 cents. The Dow Jones Industrial Average is up 167.93 points and May Crude Oil is up $0.70 a barrel. The US Dollar Index is down 0.630 and gold is up $9.90 an ounce in June. Wheat and corn post gains after Tuesday’s losses, while soybeans face slight pressure. The consumer price index rose 0.1% in March and fell to 5% year-on-year, the lowest in almost two years. Weekly EIA energy data will be released on Wednesday morning.
Posted at 11:36am – Live cattle in June are up $0.53 to $164.475, feed cattle in May are up $0.63 to $208.45, lean hogs in June are up $0.45 to 87 Down $.4, corn is up 4 cents a bushel and May soybean meal is up $1.70. The Dow Jones Industrial Average is up 105.97 points. Livestock continues to trade higher in both livestock and feedstock contracts and also in the hog complex. Some bids have developed in the Nebraska barstock market, but at this point feedlots are ignoring those offers as they are well below current asking prices.
Posted 08:34 — Live cattle in June are up $0.03 to $163.975, feed cattle in May are up $0.38 to $208.2, lean hogs in June are up $0.15 to $88 up, corn is up 2 1/2 cents a bushel and May soybean meal up $2.30. The Dow Jones Industrial Average is up 162.11 points. Both the livestock and forage cattle contracts are trading higher as the market continues to rally after Tuesday’s bullish WASDE report and expects cash cattle to trade higher again this week. Lean pork contracts continue to struggle as demand for the pork complex remains a concern.
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