(Illustration by Nick Scalise)
OMAHA (DTN) — July corn is down 3 3/4 cents a bushel, July soybeans are up 2 3/4 cents, July KC wheat is down 4 1/4 cents, July Chicago wheat is down 1 3/4 cents and Minneapolis wheat in July is down 12 1/4 cents. The Dow Jones Industrial Average is down 48.08 points and crude oil is down $0.12 a barrel in June. The US Dollar Index is down 0.530 and gold is up $1.90 an ounce in June. The sell-off in soft commodities continues except for soybeans and bean oil which are only slightly higher. Continued liquidation of funds and some of the best rainfall in months for the Southern Plains are likely factors leading to weakness.
Posted 10:01 – July Corn is down 1 3/4 cents a bushel, July Soybeans are up 4 3/4 cents, July KC Wheat is down 3 cents, July Chicago Wheat is flat and Minneapolis wheat in July is down 8 cents. The Dow Jones Industrial Average is down 113.63 points and June Crude Oil is down $0.55 a barrel. The US Dollar Index is down 0.480 and gold is up $3.40 an ounce in June. In the week ended April 21, ethanol production fell 5.6% to just 967,000 barrels per day, close to last year’s production of 963,000 bpd. Ethanol inventory showed a decrease of one million barrels – down 3.9% to 24.3 mb. Lower-than-expected crude oil and gasoline inventories and an increase in gasoline demand are blamed for the decline.
Posted at 8:36 am – Corn in July is down 2 cents a bushel, Soybeans are down 3/4 cents in July, KC Wheat is down 2 3/4 cents in July, Chicago Wheat is down 1 1/4 cents in July and Minneapolis wheat down 9 1/2 cents in July. The Dow Jones Industrial Average is up 91.44 points and crude oil is down $1.02 a barrel in June. The US Dollar Index is down 0.800 and gold is up $11.90 an ounce in June. Grain and soy markets were little changed, except for soy flour — for the seventh straight day — and Minneapolis wheat. Corn gave up early gains and is now lower for the day. There is little news driving markets early Wednesday in slow trading. Funds continue to exit longs in both soybeans and meal.
Posted 08:33 — June live cattle up $0.15 to $164.175, August feed cattle stable, June lean hogs down $0.05 to $87, July corn up 1 1/ Down 2 cents a bushel and soybean meal down $3.80 in July. The Dow Jones Industrial Average is up 90.08 points. While no bidding is currently taking place, the bar cattle market could develop some interest later in the day. Current asking prices are $176 in the South and not yet established in the North. Feedlots want to trade cattle steadily a little higher, but have a better chance of fetching higher prices if they wait to trade cattle later in the week.
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