Posted at 10:30 am – July Corn is down 5 1/2 cents a bushel, July Soybeans are down 22 1/2 cents, July KC Wheat is down 20 cents, July Chicago Wheat is up down 11 1/4 cents and July Minneapolis wheat is down 10 cents. The Dow Jones Industrial Average is down 82.19 points and crude oil is down $1.72 a barrel in June. The US dollar index is up 0.470 and gold is down $1.70 an ounce in June. Grain and soy markets continue to melt on a lack of news. I have to guess that the harsh winter humidity and continued dissolution of longs in soybeans and soymeal is driving the complex down. It sure feels like the funds could enter a short position in the corn market ahead of the growing season — an odd plan of action for sure.
Posted at 8:34am – July Corn is down 1 cent a bushel, July Soybeans are down 9 1/2 cents, July KC Wheat is down 6 cents, July Chicago Wheat is down 1-3 /4 cents down and July Minneapolis Wheat is up 1 3/4 cents. The Dow Jones Industrial Average is down 36.93 points and crude oil is down $0.88 a barrel in June. The US Dollar Index is up 0.270 and gold is down $0.80 an ounce in June. Soybeans are back under pressure, corn is slightly lower and wheat is a mixed bag in very quiet trading early Tuesday. Finally, some decent rains are headed for harsh winter drought areas, but is it too late to do much good? Most think so.
Posted at 11:29am – Live cattle down $0.65 in June to $163.9, feed cattle down $0.10 to $229.225 in August, lean hogs down $0.40 to $86.95 in June , corn in July at 3 1/2 cents a bushel and soybean meal in July $2.20. The Dow Jones Industrial Average is down 139.93 points. It was another challenging day for livestock contracts as external pressures continue to send markets lower. At this point, it looks like the contracts are likely to end lower as traders just don’t seem ready to take any chances in Tuesday’s marketplace.
Posted 08:34 — June live cattle down $0.53 to $164.025, feed cattle down $0.40 to $228.925 in August, lean hogs down $0.58 to $86.775 in June, corn up in July 3/4 cents a bushel and soybean meal at $0.70 in July. The Dow Jones Industrial Average is down 34.53 points. Although the cattle complex closed a few nearby contracts slightly higher on Monday afternoon, both the live cattle and forage cattle markets are trading fully lower again. The lean hog complex is also trading lower as its market is in dire need of fundamental support.
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