Posted 10:35 – Corn is up 8 1/4 cents a bushel, May soybeans are down 7 1/4 cents, May KC wheat is up 23 cents, May Chicago wheat is up 11 cents and May Minneapolis wheat is up up 18 cents 1/2 cent. The Dow Jones Industrial Average is down 220.58 points and May crude is up $0.65 a barrel. The US dollar index is up 0.600 and gold is down $43.30 an ounce in June. Wheat and corn surge Friday morning while soybeans and bean oil come under heavy selling pressure. There’s not much news, but it looks like Russia won’t agree to a further extension of the Black Sea Safe Corridor on May 18 unless sanctions are lifted. That has boosted US corn and wheat, with corn also getting help from another 15mb China buy.
Posted 08:34 – Corn Corn is up 6 1/2 cents a bushel, May soybeans are down 6 1/4 cents, May KC wheat is up 4 3/4 cents, May Chicago wheat is up 1/2 cent up and May Minneapolis wheat is up 3 1/4 cents. The Dow Jones Industrial Average is down 16.75 points and May crude is up $0.69 a barrel. The US dollar index is up 0.250 and gold is down $17.80 an ounce in June. For the second straight day, the USDA announced new sales of US corn to China, split between old and new crop: Sold 382,000 t with 246,000 t (9.7 mb) for 2022-23 and 136,000 t (5.3 mb ) for 2023-24 . Corn is firm, soybeans and soy products start weaker.
Posted at 11:22 am — June live cattle down $0.43 to $164.075, May feed cattle up $0.05 to $207.85, June lean hogs up $0.88 Up $86.525, Corn is up 10 cents a bushel and May Soybean Meal is down $3.60. The Dow Jones Industrial Average is down 235.45 points. Livestock trades are mixed into Friday lunchtime as higher corn prices push both livestock and forage contracts lower. Meanwhile, the Lean Hog complex appears to be finding some technical support as its contracts trade higher. No new Cash Cattle trades have developed at this point and it looks like the week’s deal is pretty much done.
Posted 08:36 — Live cattle in June are up $0.25 to $164.75, feed cattle in May are up $0.53 to $208.325, lean hogs in June are up $0.65 to 86, Up $3, Corn is up 5 1/4 cents a bushel and May Soybean Meal is down $3.40. The Dow Jones Industrial Average is down 12.96 points. A little more trade could develop in the bar cattle market in the south, but prices are expected to hold steady throughout the week. Both the livestock and forage contracts are trading mixed as traders try to gain a foothold in the Friday market, but the lean hog contracts got off to an aggressive start.
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