Posted 10:32 – December corn is down 8 cents a bushel, November soybeans are down 18 1/2 cents, December KC wheat is down 25 3/4 cents, wheat December Chicago is down 19 3/4 cents and December Wheat Minneapolis is down 25 3/4 cents. The Dow Jones Industrial Average is down 156.57 points and October Crude Oil is down $2.83 a barrel. The US Dollar Index is up 1.050 and December Gold is down $21.40 an ounce. Grain and soybean markets plunge again on the heels of bearish external markets. The US dollar index again printed a new high – the highest level in 20 years. Crude oil futures tumble on news of further shutdowns in China and increased talk of the recession. All of this is demand-destroying and comes up against negative seasonal pressure for corn and soybeans.
Posted 08:33 — December corn is down 5 cents a bushel, November soybeans are down 5 3/4 cents, December KC wheat is down 8 1/2 cents, wheat Chicago December wheat is down 8 1/2 cents and Minneapolis December wheat is down 8 cents. The Dow Jones Industrial Average is down 110.33 points and October crude oil is down $1.68 a barrel. The US Dollar Index is up 0.580 and December Gold is down $17.80 an ounce. The USDA announced another sale of soybeans to unknown for 2022-2023 – a sale of 396,000 tonnes (14.6mb) after Wednesday’s sale of 6.1mb to China and another 9.7mb sold to strangers on Tuesday. Cereals and the soybean complex continue to weaken due to the decline in external financial markets and increasing blockages in China.
Posted 11:34 am — October live cattle are up $0.23 at $142.8, October feeder cattle are up $0.68 at $184.15, hogs October lean is down $0.25 at $91.275, December corn is down 9 3/4 cents a bushel and December soybean meal is up $0.90. The Dow Jones Industrial Average is down 70.93 points. Thursday was slow as the livestock complex was unable to entice traders to do anything and the pig and cattle markets saw very little interest. Given that last week we saw an increase in cattle carcass weight data, it will be interesting to pay attention to Thursday afternoon’s report to see if the weights come back down.
Posted 08:35 AM — October Live Cattle are down $0.13 at $142.45, October Feeder Cattle are up $0.18 at $183.65, Hogs October lean is down $0.13 at $91.4, December corn is down 4 3/4 cents a bushel and December soybean meal is up $5.20. The Dow Jones Industrial Average is down 116.73 points. The Foreign Agricultural Service announced Aug. 31 that it would be unable to release weekly export sales data on Thursday, Sept. 1 or Thursday, Sept. 8, but expects to resume regular reporting on Thursday. September 15. The Live Cattle and Lean Hog contracts trend lower early Thursday, while the Feeder Cattle Complex trades higher due to lower corn.
(c) Copyright 2022 DTN, LLC. All rights reserved.