Posted 10:34 – July corn down 16 3/4 cents a bushel, July soybeans down 3 1/4 cents, July KC wheat down 12 3/4 cents, July Chicago wheat is down 13 1/2 cents Minneapolis wheat in July is down 17 3/4 cents. The Dow Jones Industrial Average is up 242.95 points and crude oil is up $0.31 a barrel in June. The US dollar index is up 0.040 and gold is down $2.20 an ounce in June. Then, the grain and soybean cleanup continues mid-morning, with only nearby soybean meal futures unchanged higher. China’s second corn cancellation in the last 10 days has cast a bearish shadow on an already fading corn demand picture. Wheat markets appear to be exaggerating recent rains, which may have come too late to help in many areas.
Posted 8:35 – July corn down 11 3/4 cents a bushel, July soybeans down 7 1/4 cents, July KC wheat down 18 3/4 cents, July Chicago wheat is down 14 cents and Minneapolis wheat in July is down 19 1/4 cents. The Dow Jones Industrial Average is up 90.00 points and crude oil is up $0.51 a barrel in June. The US dollar index is up 0.210 and gold is down $5.40 an ounce in June. The USDA announced yet another cancellation of an earlier corn purchase by China — 233,000 t (9.2 mb) corn for February 22nd. That’s a total of over 20mb of corn sold to China that has been canceled in the last few weeks. Corn, already reeling from recent fund selling, moves lower after another China rejection of a US corn purchase – now totaling more than 20mb over the past 10 days.
Posted at 11:36 am – Live cattle in June are up $0.03 to $164.6, feed cattle in August are up $0.15 to $231.1, lean hogs in June are up $0.40 Down $89.875, corn down 17 1/2 cents a bushel in July and soybean meal down $1.10 in July. The Dow Jones Industrial Average is up 315.33 points. The cash cattle market has still not seen any trading development, although the deal is expected to take place on Thursday afternoon. Asking prices are over $176 in the South and over $286 in the North.
Posted 08:35 — June live cattle down $0.05 to $164.525, August feed cattle up $0.05 to $231, June lean hogs up $0.60 to $90.875, Corn is down 11 1/4 cents a bushel in July and soybean meal is down $4.00 in July. The Dow Jones Industrial Average is up 120.34 points. Net beef sales of 9,500 tonnes for 2023 were 50% below the previous week and 28% below the previous four week average. The three main customers were Japan (2,400 tons), South Korea (2,200 tons) and Canada (1,600 tons). Net pork sales of 54,000 tonnes for 2023 – a peak in a marketing year – were 50% higher than the previous week and 47% higher than the average for the previous four weeks. The top three buyers were Mexico (32,400 tons), Japan (6,400 tons) and Canada (4,700 tons).
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