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Posted at 10:33 am — Risk-off selling pushes crop prices further lower Thursday morning with more bearish news on Thursday. The Philly Fed manufacturing index showed a decline in April, US existing home sales fell more-than-expected in March and the US leading indicators index fell 1.2% in March. Meanwhile, beneficial rains are falling across Nebraska, South Dakota and Iowa. July corn is down 9 1/4 cents and July soybeans are down 11 1/4 cents. KC wheat in July is down 20 3/4 cents with rain expected in the southwestern plains early next week. Minneapolis wheat in July is down 7 cents. June crude oil is down $1.88 and Dow Jones futures are down 92 points. The US Dollar Index is down 0.21 and Gold is up $7.90 in June.
Posted at 8:33 AM — After Thursday’s 8:30 AM CDT open, crop prices remain lower across the board, prompted by rain forecast for the Southwestern Plains, a poor weekly readout for export sales and concerns from traders over another rate hike will put pressure on the US dollar path. July corn is down 9 1/2 cents and July soybeans are down 14 1/4 cents. KC wheat in July is down 20 1/2 cents and Minneapolis wheat in July is down 9 cents. June crude oil is down $1.81 and Dow Jones futures are down 153 points. The US Dollar Index is down 0.15 and Gold is up $7.50 in June.
OMAHA (DTN) – June live cattle are up $0.45 to $164.05, feed cattle are up $0.55 to $211.025 in May, lean hogs are up $1.18 to $85.25 in June $ down, corn is down 9 1/2 cents a bushel in May and soybean meal is down $5.80 in July. The Dow Jones Industrial Average is down 74.61 points. The North hasn’t really traded cattle yet as the feedlots are patiently waiting for bids to get stronger. Asking prices for cattle remaining on show lists remain at $176-$177 in the South and over $290 in the North.
Posted at 8:33 am — Live cattle in June are down $0.35 to $163.25, feed cattle in May are down $0.28 to $210.2, lean hogs in June are down 1.20 $down to $85.225, corn down 7 1/4 cents a bushel in May and soybean meal down $5.30 in July. The Dow Jones Industrial Average is down 168.65 points. Net beef sales of 19,100 tonnes for 2023 were significantly higher than the previous week and 47% above the four-week average of the previous week. The three largest buyers were South Korea (5,500 mt), Japan (4,200 mt) and Mexico (2,800 mt). Pork net sales of 36,100 tonnes for 2023 were 33% higher than the previous week but 3% lower than the previous four-week average. The three largest customers were Mexico (13,100 t), Japan (4,600 t) and Australia (4,200 t).
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