Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)

Posted 08:33 — December corn is down 1 3/4 cents per bushel, November soybeans are down 8 cents, December KC wheat is down 11 3/4 cents, December Chicago wheat is down 7 cents and December Minneapolis wheat is up 3 cents. The September DJIA futures are down 9 points. The U.S. Dollar Index is up 0.2680 at 104.260, December gold is down $0.60 per ounce at $1,946.20 and October crude oil is up $0.22 per barrel at $80.32. USDA announced two new sales for 2023-24: Sold 246,100 mt (9 mb) of soybeans to unknown destinations, and another 105,000 mt of soybean cake and meal tom unknown. Early weakness in corn and beans is attributed to crop conditions falling less than expected, with corn down 2 percentage points and soybeans just 1 point, when traders were expecting a decline of 2 to 4 points in good-to-excellent ratings. KC December wheat has matched the May low.

OMAHA (DTN) — October live cattle are down $0.63 at $180.925, October feeder cattle are down $0.65 at $256.375, October lean hogs are up $0.15 at $82., December corn is down 1 1/4 cents per bushel and December soybean meal is down $3.90. The Dow Jones Industrial Average is up 4.39 points. After trading substantially higher through Monday’s market, the cattle contracts are now trading lower as traders look for fundamental assurance. Meanwhile, the lean hog contracts are still trading higher as they find comfort in the corn market’s continued weakness.

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