Market Update
Posted 10:29 — July corn dropped by 8 cents a bushel, while July soybeans fell by 28.5 cents. On the wheat front, July KC wheat decreased by 6.25 cents, and July Chicago wheat was down 7.25 cents. MIAX July Minneapolis wheat dipped slightly by 0.0450 cents. In contrast, the Dow Jones Industrial Average surged by 881.66 points. The U.S. dollar index experienced a slight decline of 0.180, and July crude oil prices fell by $3.30 per barrel. Contrarily, August gold saw an increase of $31.90 an ounce. The morning saw a decline in grain and soybean markets, particularly driven by soybean oil and soybeans. While oil prices are slipping, the stock market continues to set new records. It seems soybean prices have recently broken below a symmetrical triangle pattern established in November, hinting at a bearish trend. Meanwhile, July corn prices are at their lowest. This bearish sentiment has been fueled by favorable weather and fund selling. It’s notable that KC July wheat has now fallen for 11 consecutive days.
Posted 8:31 — July corn was down 4.5 cents a bushel, with July soybeans dropping 7.75 cents. July KC wheat managed a slight gain of 1 cent, while July Chicago wheat rose by 1.75 cents, and MIAX July Minneapolis wheat was up by 0.75 cents. The Dow Jones Industrial Average increased by 539.88 points. The U.S. dollar index decreased by 0.270, and July crude oil fell by $3.05 per barrel. Notably, August gold rose by $64.70 an ounce. The USDA reported that private exporters sold 115,000 tons (or 4.5 million tons) of corn to Colombia for the 2026-2027 period. On Thursday morning, the corn and soybean sectors faced pressure, although wheat saw modest gains. KC July wheat is attempting to avoid an 11th consecutive year at the bottom of the rankings.
Posted 11:49 — August live beef rose by $3.75 to $241.60, while August feed beef increased by $10.55 to $353.175. On the other side, July lean hog prices dropped by $0.43 to $101.575, with July corn down 8.25 cents per bushel and July soybean meal decreased by $8.60. The Dow Jones Industrial Average climbed by 930.98 points, although the Nasdaq saw a decline of 41.45 points. Both live and feed cattle contracts rose sharply after the first confirmed case of New World screwworm was detected in the U.S. Early trades this morning in the South reached $256, but new cash trades in the North remain uncertain.
Posted 8:32 — August live beef fell by $1.25 to $236.60, and August feed beef dropped by $3.53 to $339.10. July lean hog was down $2.05 to $99.95, with July corn prices decreasing by 4.25 cents per bushel, and July soybean meal fell by $1.30. The Dow Jones Industrial Average rose by 526.89 points, while the Nasdaq dropped by 263.21 points. Contracts for live and feed cattle saw slight declines following the confirmation of the New World screwworm outbreak in Texas. At this point, no new cash cow trades have emerged, but further transactions are expected throughout the day or into Friday.
