Periodic Updates on the Grains, Livestock Futures Markets

Posted 10:34 — In mid-morning trading, December corn is down 5 1/4 cents per bushel, January soybeans are down 13 1/4 cents, December KC wheat is up 4 3/4 cents, December Chicago wheat is down 1 1/4 cent and December Minneapolis blue down 2 3/4 cents. Soybean oil changed direction to reach new levels for the week. The Dow Jones Industrial Average is down 149.2 points and December crude oil is down $1.30 per barrel. The US Dollar Index rose to 1.378 and December gold fell to $18.90 per ounce. Wheat futures are mixed with HRS and SRW struggling to maintain a move into positive territory, while media reports indicate almost 50% of eastern Australian wheat could be down due to excessive precipitation. The USDA reported a light volume of 14.7 million bushels of corn sold for the week ending October 27, while soybean sales totaled 30.5 mb and wheat sales were reported at 12.8 mb. Shipments for the week were well above the volume needed for the week to reach the USDA’s export forecast for soybeans, while well below the volume needed for wheat and corn.

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Posted 08:34 — December corn down 6 cents per bushel, January soybeans down 15 1/4 cents, December KC wheat down 12 1/4 cents, December Chicago wheat down 14 3/4 cents and December Minneapolis wheat. is down 11 1/4 cents. The Dow Jones Industrial Average was down 265.67 points and December crude oil was down $2.03 per barrel. The US dollar index rose to 1.610 and December gold fell to $29.40 per ounce. Grain and soybean markets are all down hard on the reopening of Ukraine’s grain export park, and on negative vibes from outside macro markets after the Fed raised interest rates for a fourth time by 75 basis points. The US dollar index is rising as Fed Chairman Powell suggested that interest rates would go higher than earlier indicated.

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Posted 11:42 — December live cattle up $0.50 to $151.9, January feed cattle down $0.68 to $179,325, December lean hogs up $0.28 to $83,575, December corn down 5 1/2 cents per drink and feed December soybeans are going down. $9.30. The Dow Jones Industrial Average was down 57.86 points. Some animals have started trading in the South for $150 which is consistent with last week’s market, but the North has not yet traded animals. Northern feedlots are known to push the cash market more aggressively, so it’s still likely to see higher prices. Asking prices are around $151 to $152 in the South; $244 to $245 in the North.

Posted 08:34 — December live cattle down $0.08 to $151,325, January feed cattle down $0.08 to $179,925, December lean hogs up $0.48 to $83,775, December corn down 7 cents per bushel and December meal soybeans down $5.40. The Dow Jones Industrial Average was down 267.85 points. Beef net sales of 9,200 mt for 2022 were mainly to Japan (3,000 mt), South Korea (1,900 mt) and Taiwan (1,800 mt). Net pork sales of 47,900 mt for 2022 were primarily to Mexico (12,700 mt), China (11,200 mt) and Japan (9,300 mt).

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This year’s DTN Ag Summit will typically be held on the morning of December 12-13, 2022. Please join us to hear from DTN Principal Analyst Todd Hultman on how long these high crop prices will last and what to watch for in the coming year. the Full details are available at www.dtn.com/agsummit

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