Posted 10:33 – Corn is up 1/4 cent a bushel, May soybeans are down 1 cent, July KC wheat is down 11 cents, May Chicago wheat is down 3 3/4 cents and July Minneapolis wheat is up 9 1 fallen /4 cents. The Dow Jones Industrial Average is down 92.24 points and May crude is up $0.38 a barrel. The US Dollar Index is down 0.330 and gold is up $16.20 an ounce in June. All three markets wheat and soy flour reversed early gains and moved lower. We haven’t heard any news that could fuel the weakness. A portion of Kansas and eastern Oklahoma has a slightly better chance of rain, but in some areas it may be too late to do much good. Corn continues to trade in very calm trading.
Posted at 8:34 am — Corn is down 2 3/4 cents a bushel, May soybeans are up 5 1/2 cents, July KC wheat is down 5 cents, May Chicago wheat is stable and July Minneapolis wheat is down 1/2 cent. The Dow Jones Industrial Average is down 36.90 points and May crude is up $0.05 a barrel. The US Dollar Index is down 0.220 and Gold is down $0.60 an ounce in June. Soybeans and soy products are slightly higher, while mixed wheat and corn are slightly lower. Spring wheat sowing is only 3% complete – well short of the five-year average of 7%, with more weather problems ahead for sowing. The corn planting will also be delayed somewhat with the cooler and wetter forecast.
Posted 1123 – June live cattle up $0.15 to $165.025, May feed cattle up $0.50 to $211.25, June lean hogs down $1.70 to $86.475, corn is stable and soybean meal in July is stable. The Dow Jones Industrial Average is down 26.17 points. The cattle market started the day strong, but as Tuesday noon approaches, both livestock and lean hog contracts are trading lower. No cash cattle bids have developed yet and it’s likely we won’t see any split asking prices/bids until Wednesday.
Posted 08:36 — Live cattle in June are up $0.35 to $165.225, feed cattle in May are up $0.25 to $211, lean hogs in June are up $0.23 to $88.4 up, corn is down 3 1/2 cents a bushel in May and soybean meal up to $3.20 in July. The Dow Jones Industrial Average is down 48.57 points. As the corn complex poses no threat to cattle contracts early Tuesday morning, all three cattle contracts are trading higher again. If the market can find the necessary fundamental support later in the day, this steady uptrend should be able to continue.
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