Periodic updates on the grains, livestock futures markets

March corn is up 1 1/4 cents per bushel, January soybeans are down 4 cents per bushel. March KC wheat is up 7 1/4 cents per bushel, March Chicago wheat is up 8 cents per bushel and March Minneapolis wheat is up 5 3/4 cents.

The Dow Jones Industrial Average is down 25.90 points at 42,814.36. The U.S. Dollar Index is up 0.460 at 108.09. February crude oil is down $0.27 per barrel at $69.19. s we approach the close, soybeans and soymeal are still trading lower, while corn, wheat and bean oil are higher. Weather remains non-threatening in South America.

After Monday, a drier trend sets in for Argentina before rain returns next week. Soymeal is retreating on falling world prices as Argentina is slated to crush a record amount of beans. January soybeans have so far been able to stay under the old contract low, which is now new resistance.

Posted 10:35 -- March corn is up 1 cent per bushel, January soybeans are down 3 1/4 cents per bushel. March KC wheat is up 7 1/2 cents per bushel, March Chicago wheat is up 7 3/4 cents per bushel and March Minneapolis wheat is up 6 1/2 cents. The Dow Jones Industrial Average is down 194.91 points at 42,645.35. The U.S. Dollar Index is up 0.500 at 108.12. February crude oil is down $0.69 per barrel at $68.77. At midmorning both soybeans and soymeal ran into selling and are trading lower, while corn is little changed and all three wheat markets are firmer. The wheat strength comes despite the U.S. dollar being up near the highs again. Weather is mostly neutral in South America with a drying trend in Argentina which must be monitored.

Posted 08:35 -- March corn is up 1 cent per bushel, January soybeans are down 1 cent per bushel. March KC wheat is up 4 1/4 cents per bushel, March Chicago wheat is up 2 3/4 cents per bushel and March Minneapolis wheat is up 4 1/2 cents. The Dow Jones Industrial Average is down 83.95 points at 42,756.31. The U.S. Dollar Index is up 0.520 at 108.14. February crude oil is down $0.13 per barrel at $69.33. The USDA announced two new export sales for 2024-25: Sold 132,000 mt (5.2 mb) of corn to unknown destinations and sold 132,000 mt (4.85 mb) of soybeans to China. Soybeans and soymeal start a bit weaker and corn and what slightly firmer to being the holiday-shortened week.

Posted 19:03 Sunday -- March corn is up 1/2 cents and January soybeans are up 3 3/4 cents. March KC wheat is up 1 1/2 cents and March Minneapolis wheat is unchanged. February crude oil is up $0.24 and Dow Jones futures are up 76 points. The U.S. Dollar Index is up 0.18 and February gold is down $7.30. Markets will open the week near technical resistance on corn and soybean futures. The soybean rally to finish last week was largely driven by macroeconomic factors rather than a change in market fundamentals -- namely, the Brazilian government's attempt to stimulate their falling currency. Their efforts were successful in finishing last week, but time will tell if the reais buying spree is a long-term fix and continues to be bullish to the soybean market. Trading volumes may also be conducive to choppy, range-bound trade with the Holiday this week and only six more trading sessions left in 2024.

Livestock

February live cattle are down $0.93 at $187.475, January feeder cattle are up $0.63 at $256.225, February lean hogs are down $2.18 at $83.75, March corn is up 1 1/4 cents per bushel and March soybean meal is down $3.10. The Dow Jones Industrial Average is down 83.52 points. The livestock complex is again trading mixed as the market needs more support but given that it's a holiday-shortened week, everyone knows that the market will likely trade sluggishly throughout the week. New showlists for the week are lighter in Texas and Kansas, but slightly higher in Nebraska and Colorado.

February live cattle are down $0.45 at $187.95, January feeder cattle are down $0.08 at $255.525, February lean hogs are down $0.20 at $85.725, March corn is up 3/4 cent per bushel and March soybean meal is down $0.60. The Dow Jones Industrial Average is down 62.58 points. The entire livestock complex is trading lower at Monday's start as the market continues to battle technical pressure. It could likely be a lackadaisical, slow trading paced week as Christmas falls in the middle of the week.