Periodic Updates on the Grains, Livestock Futures Markets

(Illustration by Nick Scalise)


OMAHA (DTN) — After Friday’s 8:30 am CDT open, grains are all trading higher again, on track to finish out what has been a bullish week, largely propelled by a forecast for hot and dry weather the next two weeks. December corn is up 17 1/4 cents and November soybeans are up 36 1/2 cents after USDA said 4.85 million bushels of new-crop soybeans were sold to unknown destinations. September KC wheat is up 18 3/4 cents and September Minneapolis wheat is up 13 1/4 cents after this week’s HRS wheat tour wrapped up with an average spring wheat yield estimate of 49.1 bushels per acre. September crude oil is trading up $3.44 and Dow Jones futures are up 14 points. The US Dollar Index is up 0.25 and August gold is up $5.10.

Posted 08:35 — October live cattle are down $0.05 at $141,775, September feeder cattle are down $1.50 at $178.7, October lean hogs are down $0.55 at $95,775, December corn is up 14 3/4 cents per bushel and December soybean meal is up $7.50. The Dow Jones Industrial Average is up 34.63 points. The livestock contracts are trading weakly into Friday’s start. With fundamental support neglecting to help the live cattle contracts trade higher, and with corn prices running aggressively into Friday’s start, the cattle complex is looking at an uphill battle in Friday’s market.

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