(Illustration by Nick Scalise)
Posted at 10:35 am – July Corn is down 25 cents a bushel, July Soybeans are down 25 cents, July KC Wheat is down 4 3/4 cents, July Chicago Wheat is down 29-3 /4 cents down and July Minneapolis wheat is down 15 cents 3/4 cents. The Dow Jones Industrial Average is up 131.49 points and Crude Oil is up $1.47 a barrel in June. The US dollar index is up 0.370 and gold is down $9.00 an ounce in June. Grain and soybean markets recover simultaneously on Wednesday morning. Good planting weather, an above-average start for corn and soybean sowing and weak demand are driving the markets down. China has again canceled more US corn for the old crop. Also, the United Nations says the Black Sea Grain Corridor was expanded at the last moment.
Posted at 08:36 – Corn is down 15 cents a bushel in July, soybeans are down 8 1/2 cents in July, KC wheat is up 6 cents in July, Chicago wheat is up 12-3 in July /4 cents down and Minneapolis wheat is up 2 cents in July 1/2 cent. The Dow Jones Industrial Average is up 116.91 points and crude oil is up $1.07 a barrel in June. The US dollar index is up 0.380 and gold is down $6.30 an ounce in June. The USDA reported another cancellation of a corn sale to China: 272,000 tons (10.7 million tons) canceled for 2022-23. Corn, soybeans and produce are down, with corn in July reacting to another reversal of a previous sale of old-crop corn in China. Soybeans are still weaker but off the lows while bean oil has rallied somewhat as crude oil rebounded.
OMAHA (DTN) – In August, live cattle are down $0.05 to $162.425, in August forage cattle are down $0.75 to $230.725, in June lean hogs are down $1.83 to $85.375 in July corn is down 23 3/4 cents a bushel and in July soybean meal is down $0.10. The Dow Jones Industrial Average is up 237.29 points. Bids currently offered in Nebraska are $175 live buy and $280 clothed sell, while in Texas bids are $167 live buy. Asking prices are over $172 in the south and over $282 in the north. No cattle were traded, but packer interest should increase as the day progresses.
Posted 08:38 – In August live cattle are down $0.28 to $162.2, in August forage cattle are up $0.30 to $231.775, in June lean hogs are up $0.10 to $87.3 up, in July corn is down 15 1/2 cents a bushel and in July soybean meal is up $0.20. The Dow Jones Industrial Average is up 132.25 points. The livestock complex has gotten off to a mixed start as feedstock contracts trade higher again, but both the livestock and hog markets are skeptical and trading is mixed. With corn prices falling sharply again Wednesday morning, it wouldn’t be surprising to see cattle contracts pick up even more over time.
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