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Soybeans down 10¢ at midday. Tuesday, April 16, 2024 in the US

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Published Apr 17, 2024

Tridge summary

In the latest market updates, there has been a notable decrease in the prices of May corn and soybeans, with corn dropping by 1¾¢ and soybeans by 10¼¢. While CBOT wheat prices declined, both KC and Minneapolis wheat experienced slight increases. The livestock sector saw an uptick in prices across live cattle, feeder cattle, and lean hogs. According to the USDA's Crop Progress report, corn planting has doubled in progress, and soybean planting has commenced for the season. Despite a record soybean crush reported by the National Oilseed Processors Association for March, it did not meet trade expectations. Additionally, crude oil prices have fallen, with potential volatility on the horizon due to the expiration of May crude oil options. Meanwhile, the U.S. Dollar Index has strengthened, S&P 500 futures have slightly decreased, and Dow futures have seen an increase.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

May corn is down 1¾¢ at midday. May soybeans are down 10¼¢. CBOT wheat is down 4¢. KC wheat is up 2¢. Minneapolis wheat is up 1½¢. Live cattle are up $1.20. Feeder cattle are up $2.48. Lean hogs are up 15¢. Crude oil is down 9¢. S&P 500 futures are down less than a point. Dow futures are up 149 points. Published: 11:22 a.m. CDT May corn is down 2¢ this morning. May soybeans are down 3¾¢. CBOT wheat is down 8¼¢. KC wheat is down 4¢. Minneapolis wheat is down less than a penny. Yesterday USDA released the latest Crop Progress report. Corn planting progress doubled from 3% to 6% complete and soybean planting progress was reported for the first time this growing season at 3% complete. “The trade will start to watch the U.S. corn planting number more closely next week,” says Al Kluis, managing director of Kluis Commodity Advisors. “The key to watch will be the eastern Corn Belt and the Delta. The Delta is not watched as closely as Illinois and Iowa, but is more important every year to ...
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