Periodic Updates on the Grains, Livestock Futures Markets

2022-07-22 23:09:49 By : Ms. Jannie Zheng

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Posted 12:41 -- As we near Friday's close, wheat prices remain firmly lower after Friday's agreements were signed to make way for grain shipments out of Ukraine. According to the Wall Street Journal, shipments are expected total roughly 5 mmt per month and the initial agreement is set for 120 days. September KC wheat is down 41 3/4 cents and September Minneapolis wheat is down 40 1/4 cents. December corn is down 6 cents with moderate to heavy rains expected in the Eastern Corn Belt the next seven days. November soybeans are up 14 3/4 cents, propped up by a 1.83 cent gain in December soybean oil. September crude oil is down $0.95 and Dow Jones futures are down 207 points. Other commodities are mostly mixed with the U.S. Dollar Index down 0.42.

Posted 10:38 -- At midmorning Friday, wheat prices remain lower after AP and others reported Ukraine and Russia signed separate agreements to allow the export of grain from Odesa, Chernomorsk and Yuzhny. September KC wheat is down 35 cents and September Minneapolis wheat is down 35 cents. December corn is up 1 cent with very little rain on Friday's weather map. November soybeans are up 27 cents, getting support from a 1.92-cent rebound in December soybean oil. September crude oil is up $1.00 and Dow Jones futures are down 55 points. The U.S. Dollar Index is down 0.46 and August gold is up $16.20, even though the Federal Reserve is expected to increase the federal funds rate by 0.75% on Wednesday.

Posted 08:34 -- After Friday's 8:30 a.m. CDT open, wheat prices are lower with many expecting Ukraine and Russia to agree to terms that will allow grain shipments to soon leave Ukrainian ports, despite many unanswered questions about how that might happen. September KC wheat is down 18 cents and September Minneapolis wheat is down 16 cents. December corn is down 3 1/4 cents with rain in the forecast for the Eastern Corn Belt the next seven days. November soybeans are up 5 cents. September crude oil is down $0.63 after Reuters reported increased production from Libya and this week's rate hike in Europe is expected to slow the economy. Dow Jones futures are up 171 points, the U.S. Dollar Index is down 0.15 and August gold is up $8.80.

OMAHA (DTN) -- October live cattle are up $2.03 at $143., August feeder cattle are up $3.28 at $181.55, October lean hogs are up $0.55 at $96.325, December corn is down 9 1/4 cents per bushel and December soybean meal is down $3.20. The Dow Jones Industrial Average is down 137.61 points. Friday's Cold Storage report shared that total red meat supplies in freezer were down 1% from the previous month but up 24% from last year. Total pounds of beef in freezers were down 2% from last month but up 29% from a year ago. Frozen pork supplies were down 1% from last month, but up 22% from last year. Stocks of pork bellies were down 6% from last month but up 46% from last year.

Posted 11:28 -- October live cattle are up $1.63 at $142.6, August feeder cattle are up $1.83 at $180.1, October lean hogs are up $0.50 at $96.275, December corn is down 4 cents per bushel and December soybean meal is down $0.30. The Dow Jones Industrial Average is down 98.53 points. The livestock complex is trending higher into Friday afternoon as everyone sits anxiously awaiting the Cold Storage, Cattle on Feed and Cattle Inventory reports, all of which will be released this afternoon. The cash cattle market hasn't seen any renewed interest and it's likely the week's business is done.

Posted 08:37 -- October live cattle are up $0.25 at $141.225, August feeder cattle are up $0.70 at $178.975, October lean hogs are down $0.90 at $94.875, December corn is down 2 3/4 cents per bushel and December soybean meal is down $2.20. The Dow Jones Industrial Average is up 141.94 points. The cattle contracts are trending higher into Friday's start as the market anticipates the highly sought-after Cattle on Feed and Cattle Inventory reports. The lean hog market is trending mixed as there's ample support for the August contract but concerns about increased supplies later in 2022 has traders worried.

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