Posted 10:38 -- July corn is down 1 cent, July soybeans are down 14 cents, July K.C. wheat is down 15 1/4 cents and July Chicago wheat is down 16 3/4 cents. Soybeans are under pressure from favorable weather conditions and also from White House Trade Adviser Peter Navarro saying Tuesday that President Trump is still considering imposing tariffs on certain imports from China. Expectations are that his final list of goods affected will be published by Friday. The corn market is weaker in sympathy with wheat and corn, but so far has remained in a tighter trading range than the other markets. Wheat traders are taking profits from Tuesday's unexpected rally as they turn their focus to the ongoing winter wheat harvest. The U.S. dollar is lower, down 0.15.
Posted 08:34 -- After the 8:30 open, July corn is down 2 cents, July soybeans are down 12 ½ ce 09:nts, and July K.C. wheat is down 5 cents. After the excitement of the USDA reports wore off, both corn and soybeans got back to reality, turning their sights on the weather again, which still remains favorable for both crops right now. The wheat markets settled down after Tuesday’s gains and while dry weather persists in southern Russia and the Ukraine, the market has put that aside for now as the U.S. harvest picks up. The U.S. dollar is lower, down 0.14 and now the market waits for the expected announcement this afternoon of a one-quarter point rate hike.Livestock
OMAHA (DTN) -- Light-to-moderate pressure continues to hold in live cattle and feeder cattle trade following little to no additional market direction from fundamentals. Pressure in outside markets continues to add some concerns for many traders who are focusing on protection-taking. Aggressive gains have held in lean hog futures with prices $1 to $2 per hundredweight higher in most nearby contracts.
Posted 10:54 -- Strong gains have quickly developed through the lean hog complex with July and August futures holding gains of $1.50 to $2 per cwt. There is growing support for buyers to move into all lean hog contracts. Cattle trade is under light to moderate pressure, although volume remains extremely sluggish. The pressure in outside markets is creating some additional pressure when it comes to cattle trade. This may spark some increased activity through the rest of the day with nearby contracts still holding narrow losses.
Posted 09:26 -- Livestock futures have changed very little from opening trade during the first hour of market activity Wednesday morning. Firm gains seen in nearby lean hog futures are holding 90-cent to $1-per-hundredweight gains. However, lack of consistent follow-through buying is allowing deferred contracts to still remain under light pressure. Cattle markets are mixed to mostly lower, although the tone of the market remains moderately stable. Cattle markets are holding from 15 cents lower to 12 cents higher in nearby contracts. Trade volume is expected to remain sluggish through most of the morning.
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