OMAHA (DTN) -- As we near Wednesday's close, July corn is up 6 cents, supported by bull spreading. Winter wheats are modestly higher after the Wall Street Journal and others reported Russian missiles attacked two grain terminals at the southern Ukraine port of Mykolaiv. July soybeans are down 31 cents with bearish pressure coming from a 2.71-cent drop in July soybean oil -- the result of Wednesday's lower trading in both palm and crude oil. August crude oil is down $3.54 and Dow Jones futures are up 97 points. The U.S. Dollar Index is down 0.33 and August gold is up $1.40.
Posted 11:04 -- At midmorning Wednesday, grain bulls are getting more confident. July corn is up 9 1/4 cents and July soybeans are down 7 3/4 cents with July soybean meal up $1.70 and July bean oil trading down 1.49 cents clawing back roughly a cent from earlier trading. July KC wheat is up 18 cents and September Minneapolis wheat is down 1/2 cent. August crude oil is down $4.00 and Dow Jones futures are up 101 points, overcoming a lower start. The U.S. Dollar Index is down 0.47 and August gold is up $4.50 after numerous sources reported Fed Chairman Jerome Powell told the Senate Banking Committee the Fed was committed to bringing down inflation.
Posted 08:33 -- July corn is down 1 1/2 cents per bushel, July soybeans are down 19 1/4 cents, July KC wheat is up 6 3/4 cents, July Chicago wheat is up 11 1/2 cents and September Minneapolis wheat is up 2 cents. The Dow Jones Industrial Average is down 353.97 points and August crude oil is down $7.53 per barrel. The U.S. Dollar Index is down 0.060 and August gold is up $1.50 per ounce. Soybeans and soy oil are being pressured by the plunge in palm oil in Malaysia, and soy and palm oil in China, and the $7 per barrel freefall in crude oil futures early on Wednesday. The consideration of a suspension of the gasoline tax, and fears of a U.S. and world recession, is leading to weak outside financial markets.Livestock
Posted 11:45 -- August live cattle are down $1.10 at $135.15, August feeder cattle are down $1.83 at $173.475, August lean hogs are down $0.65 at $109.15, July corn is up 3 1/2 cents per bushel and July soybean meal is up $2.60. The Dow Jones Industrial Average is up 34.38 points. The futures market hasn't performed well for the livestock contracts thus far throughout Wednesday's market. The cash cattle market has seen some interest develop, but largely packers are looking to get cattle bought for cheaper money and feedlots aren't interested in their softer bids.
Posted 08:35 -- August live cattle are down $0.33 at $135.925, August feeder cattle are down $0.23 at $175.075, August lean hogs are down $0.63 at $109.175, July corn is up 3 cents per bushel and July soybean meal is down $0.30. The Dow Jones Industrial Average is down 241.14 points. Asking prices are around $142 in the South and $239 plus in the North. A few bids are being offered Wednesday morning by a regional packer in in Nebraska at $237, but otherwise the market sits quiet. Business is expected to see more interest as the day plays out.
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