Posted 10:34 — In midmorning Thursday trade, March corn is down 1/2 cent per bushel, March soybeans are up 1/4 cent, March KC wheat is up 10 1/4 cents, March Chicago wheat is up 9 1/2 cents and March Minneapolis wheat is up 4 1/2 cents. The Dow Jones Industrial Average is up 37.41 points and February crude oil is down $0.72 per barrel. The U.S. Dollar Index is up 0.080 and February gold is down $7.50 per ounce. The Energy Information Administration reported daily ethanol production averaging 1.107 million barrels/day over the week ending Dec. 22, above the range of pre-report estimates and by one account, the second-highest weekly production on record. Ethanol inventory is reported to rise to 23.517 million barrels, up 611,000 barrels over the week and also higher than expected. The wheat market is leading Thursday’s move despite mixed signals. A grain vessel on the way to load from a Ukraine Danube River port has hit a floating mine in the Black Sea, a supportive feature for the wheat market, while there are indications that Egypt’s GASC may have cancelled Thursday’s wheat tender for March delivery due to the high prices offered.
Posted 08:38 — March corn is up 1/2 cent per bushel, March soybeans are up 4 3/4 cents per bushel. March KC wheat is up 4 1/4 cents per bushel, March Chicago wheat is up 7 1/4 cents per bushel and March Minneapolis wheat is up 3 1/4 cents. The Dow Jones Industrial Average is up 33.69 points at 37,690.21 and The U.S. Dollar Index is down 0.030 at 100.95 and February crude oil is down $0.96 per barrel at $73.15. Grain and soy markets are all higher to begin in low volume holiday trade. Wheat markets are the strongest, and although the U.S. Dollar Index has moved into positive territory, it had fallen to the lowest level since July, giving a boost to U.S. export prospects.
Posted 11:35 — February live cattle are down $0.95 at $168.325, March feeder cattle are down $2.00 at $223.4, February lean hogs are down $1.60 at $68.275, March corn is down 2 1/4 cents per bushel and March soybean meal is down $3.40. The Dow Jones Industrial Average is up 45.56 points. Cattle country remains relatively quiet at midday with just a few bids on the table in parts of Nebraska at $270, well below current asking prices. Packer inquiry should continue to improve as the day progresses, but it is possible significant trade volume could be delayed until Friday. Beef cutouts are lower at midday (choice 286.63 -4.85, select 259.68 -0.64) with light to moderate box movement (42 lds of choice cuts, 13 lds of select cuts, 05 lds of trim, and 10 lds of ground), with a choice/select spread of 26.95. Thursday’s projected cattle slaughter is 126,000. Pork cutouts at midday are 82.77, +0.25, with 148.77 total loads. Thursday’s projected hog slaughter is 486,000.
Posted 08:38 — February live cattle are down $0.43 at $168.85, March feeder cattle are down $0.75 at $224.65, February lean hogs are up $0.43 at $70.3, March corn is up 1/2 cent per bushel and March soybean meal is up $2.90. The Dow Jones Industrial Average is up 43.55 points. In cash cattle country early asking prices are around $175-plus in the South, and 275-plus in the North. So far, bids remain elusive this morning. The projected CME Lean Hog Index for Dec. 26 was down $0.54, at $65.71. Note due to the holiday’s the Next U.S. Export Sales Report will not be released until Friday, Dec. 29.
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