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Periodic Updates on the Grains, Livestock Futures Markets
OMAHA (DTN) -- March corn is down 3 cents per bushel, January soybeans are down 7 cents per bushel. March KC wheat is down 6 3/4 cents per bushel, March Chicago wheat is down 5 3/4 cents per bushel and March Minneapolis wheat is down 4 3/4 cents. The Dow Jones Industrial Average is down 295.33 points at 43,422.15. The U.S. Dollar Index is up 0.000 at 106.86. January crude oil is down $0.82 per barrel at $69.89. At midday, the color red is a popular one with the bearish barrage in ag futures continuing. Soybeans and soymeal have forged new lows and soybean oil may have broken out of a bear flag chart pattern. Corn and wheat are also under pressure with Chicago March wheat hovering just two cents above the low. The bearish South American weather and rising crop forecasts along with slowing Chinese demand are combining to influence corn and soy.
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Posted 10:35 -- March corn is down 3 cents per bushel, January soybeans are down 10 1/2 cents per bushel. March KC wheat is down 5 cents per bushel, March Chicago wheat is down 5 cents per bushel and March Minneapolis wheat is down 3 1/2 cents. The Dow Jones Industrial Average is down 279.56 points at 43,437.92. The U.S. Dollar Index is up 0.060 at 106.91. January crude oil is down $1.26 per barrel at $69.45. At midmorning, soybean futures have forged a new contract low, with soymeal having done so early in the morning. Corn, wheat, and soybean oil are under heavy pressure, with bean oil fading hard, fueled by the fall in both palm and crude oil. Chicago March wheat is just 2 cents away from the contract low. Financial markets are selling off ahead of the Fed's Wednesday decision on interest rates.
Posted 08:35 -- March corn is down 1/2 cent per bushel, January soybeans are down 6 1/4 cents per bushel. March KC wheat is down 2 3/4 cents per bushel, March Chicago wheat is down 2 3/4 cents per bushel and March Minneapolis wheat is down 2 1/2 cents. The Dow Jones Industrial Average is down 210.41 points at 43,507.07. The U.S. Dollar Index is up 0.030 at 106.89. January crude oil is down $1.01 per barrel at $69.70. USDA announced three new export sales for 2024-25: 170,400 mt of corn (6.7 mb) to Mexico; 187,000 mt (6.9 mb) of soybeans to Spain; 132,000 mt of soybeans (4.85 mb) to unknown destinations. The new export sales seem to be having little impact, with soymeal trading at a new low and January beans coming within 3/4 cent of the contract low. Wheat markets have rebuffed early strength to now trade lower.
LivestockPosted 11:35 -- February live cattle are down $0.18 at $189.8, January feeder cattle are up $1.28 at $256.825, February lean hogs are down $0.60 at $82.95, March corn is down 2 1/4 cents per bushel and January soybean meal is up $1.00. The Dow Jones Industrial Average is down 252.32 points. The livestock complex is mixed as traders try to decipher which direction the market should trade this week but are left without much fundamental indication. Asking prices are noted for the Southern Plains at $193 to $195.
Posted 08:40 -- February live cattle are up $0.50 at $190.475, January feeder cattle are up $0.43 at $255.975, February lean hogs are up $0.68 at $84.225, March corn is down 1/4 cent per bushel and January soybean meal is down $1.70. The Dow Jones Industrial Average is down 206.17 points. The livestock complex is changing its tune from Monday's lower close as all three of the markets are trading higher at Tuesday's start. It's unlikely any cash cattle trade will develop this early in the week, but asking prices may surface later today for the Southern Plains.
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