Corn futures are 3 to 4 cents higher at midday Thursday; soybean futures are 16 to 18 cents higher; wheat futures are 3 cents lower to 3 cents higher. The U.S. stock market is firmer at midday with the S&P 18 points higher.
May 2, 2024 Portland Price Trends
DTN CATTLE PRICES/TRENDS 05/02 09:45 HEAD SOLD LIVE STEERS DRESSED LIVE HEIFERS DRESSED
USDA Daily Market Rates 05/02 DAILY MARKET RATES(GRAIN/MISCELLANEOUS COMMODITIES)
The news of the avian flu in cattle is running rampant with numerous articles detailing concerns about the impacts this may have on people if it becomes more widespread. Cattle futures sunk Wednesday under the weight of these articles, taking hog futures down with them.
July corn is up 5 cents per bushel, July soybeans are up 10 1/4 cents, July KC wheat is up 10 cents, July Chicago wheat is up 11 cents and July Minneapolis wheat is up 2 1/2 cents.
DTN Chart Technical Points 05/01 16:30 DTN FUTURES 10 5/01/24 SLOW STOCHASTIC
It was a rough day throughout the livestock complex as the market saw pressure abound technically as fundamental support continues to lag. No substantial cash cattle trade has developedyetthis week, but packer interestis expectedto increase by Thursday.
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Wed, May 1 Exchange rate was 1.3713 down 0.0035