Periodic updates on the grain, livestock futures markets

Periodic updates on the grain, livestock futures markets

Posted 10:39 AM — Mid-morning Friday afternoon, the commodities council is still green, with wheat prices leading to higher contracts in the grain sector. December KC wheat is up 35 3/4 cents with a mostly hot and dry forecast for much of the southwestern US Plains over the next two weeks. December Minneapolis wheat is up 33 cents, also boosted by this week’s comments from Russian President Putin threatening to end Ukraine’s grain deal. December corn is up 10 1/4 cents and November soybeans are up 18 3/4 cents ahead of Monday’s WASDE report, which comes out at 11 a.m. CDT. October crude is up $2.45 and Dow Jones futures are up 341 points. The US Dollar Index is down 0.67 and gold is up $7.00 in December.

8:38 AM posted — After the CDT opens on Friday at 8:30 AM, the goods sign is mostly green. December corn is up 6 3/4 cents and November soybeans are up 20 1/4 cents after USDA reported 3.8 million bushels (104,000 mt) of new soybeans were sold to Taiwan. December KC wheat is up 17 1/2 cents and December Minneapolis wheat is up 15 1/2 cents. October crude is up $2.15 and Dow Jones futures are up 186 points. The US Dollar Index fell 0.77 after the European Central Bank raised its interest rates Thursday, and many expected a smaller rise in Tuesday’s report on US consumer prices. Gold in December is up $6.40.

Posted 11:44 AM — Live cattle in October are up $1.05 to $145,425, forage cattle in October are up $0.73 to $185,125, lean pigs in October are up $1.00 to $93,125, corn in December is up 15 cents per bushel and December soybean meal is up $6.10. The Dow Jones Industrial Average is up 282.49 points. The livestock complex is seeing more support through the Friday market than earlier in the week, despite not much has changed fundamentally. It looks like the week’s cash cattle move is essentially complete, and prices are trading anywhere from stable to $2.50 lower.

Posted 8:38 AM — Live cattle in October are up $0.28 to $144.65, forage cattle in October are up $0.15 to $184.55, lean pigs in October are down $0.53 to $91 .6, December corn is up 7 1/2 cents per bushel and December soybean meal is up $4.00. The Dow Jones Industrial Average is up 198.76 points. After closing lower on Thursday afternoon, the contracts for live cattle will start slightly higher on Friday. The lean hog complex is still trending lower, but given weak interest seen both technically and fundamentally, a lower close is expected Friday.

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