Posted at 10:53 – As of Tuesday morning, Corn is down 2 cents in March and Soybeans are up 1/2 cent in March. Flour/oil spreads turn around with March menu down $7.80 and bean oil up 2 cents. KC Wheat in March is up 10 3/4 cents, helped by bull spreading, a possible sign of commercial buying. Minneapolis wheat in March is up 3 1/2 cents. Crude oil in March is up $2.74, helped by a combination of expected higher demand in China and problems at an export terminal related to Turkey’s earthquake. Dow Jones futures are down 57 points, the US Dollar Index is down 0.08 and gold is up $10.60 in April.
Posted at 8:36 — After CST opened at 8:30 Tuesday, corn is down 2 3/4 cents in March and soybeans are up 3/4 cents in March. Concerns remain about the slow pace of harvests in Brazil and drought in Argentina, and further rains are expected in northern Brazil over the next two weeks. March KC wheat is up 6 3/4 cents and March Minneapolis wheat is up 5 1/4 cents. According to Statistics Canada, there were 22.29 million tons of wheat inventories as of December 31, up 33% from a year ago. 11.36 million t of rapeseed stocks were up 29% on the previous year. Crude oil is up $0.76 in March and Dow Jones futures are down 189 points. The US Dollar Index is up 0.19 and Gold is up $1.00 in April.
Posted at 11:40 am — Live cattle in April are down $0.78 to $163.7, feed cattle in March are down $0.23 to $187.475, lean hogs in April are up $0.75 Up $83.475, corn is down 2 3/4 cents a bushel in March and soybean meal is down $6.70 in March. The Dow Jones Industrial Average is down 93.94 points. Both the livestock and feedstock markets are trading lower into Tuesday afternoon as traders look for a fundamental continuation after Monday’s big push. Packaged beef lunchtime prices are higher, which is a good start to spot the support they need, but monitoring feed beef demand during Tuesday afternoon’s sales, as well as the day’s slaughter volumes, will be crucial.
Posted 08:38 – April live cattle down $0.03 to $164.45, March feed cattle down $0.03 to $187.675, April lean hogs down $0.48 to 83.2 $up, corn is down 1 1/4 cents a bushel in March and soybean meal is down $1.50 in March. The Dow Jones Industrial Average is down 120.05 points. The cattle market is trending mixed into Tuesday’s dawn as the market looks for fundamental support to encourage stronger technical trading. The asking prices in the south are between 161 and 162 US dollars and are not yet established in the north.
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