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Market Update: Agriculture Commodities Overview
Weekly Commodity Review
December Corn: The corn market faced a downturn, closing down 1½¢ at $4.27¼ per bushel. Over the week, this contract saw a decline of 4¼¢.
January Soybeans: In contrast, soybeans performed well, finishing the day up 9½¢ at $11.17 per bushel, marking a week-over-week increase of 1¾¢.
December Wheat: The wheat market had mixed results; December CBOT wheat ended down 7¾¢ at $5.27¾, while KC wheat decreased by 3¢ to $5.19¼. However, December Minneapolis wheat gained a penny, closing at $5.58. Comparatively, CBOT and KC wheat saw losses week-over-week, while Minneapolis noted an upward trend.
Livestock Market Trends
December Live Cattle: This commodity closed up $2.58 at $221.35 per hundredweight (cwt). Similarly, January feeder cattle rose $3.98 to $319.58 per cwt. December lean hogs were up by 43¢, closing at $79.40 per cwt. Nevertheless, all three contracts experienced a week-over-week decline, with live and feeder cattle marking their fourth consecutive week of losses, while lean hogs experienced their sixth week of declines.
Energy and Financial Markets
Crude Oil: As of 3:30 p.m. CT, December crude oil traded up 45¢ at $59.88 per barrel.
Stock Indices: The financial markets showed modest gains; the S&P 500 Index was up 8.48 points, while the Dow Jones Industrial Average rose by 74.80 points.
Morning Market Snapshot
Current Corn Prices: As of 9:31 a.m. CT, December corn was down slightly, posting a price of $4.28½ per bushel.
Soybeans Performance: January soybeans reported an increase of 8¼¢, achieving $11.15¾ per bushel.
Wheat Market Update: December CBOT wheat was down 1¾¢ at $5.33¾, while KC wheat experienced a slight increase, up less than a penny at $5.22¾. Minneapolis wheat rose by 3½¢ to $5.60½.
Livestock Prices: January feeder cattle were up $4.08 at $319.68 per cwt, with December live cattle showing an increase to $220.68 per cwt. December lean hogs posted an increase of 35¢, closing at $79.33 per cwt.
Crude Oil Update: December crude oil was noted to be up 50¢, trading at $59.93 per barrel as of the morning update.
Dollar Index: The U.S. Dollar Index discussed for December contracted down to 99.40.
Financial Markets: The S&P 500 fell by 38.08 points, while the Dow Jones Industrial Average recorded a decline of 115.73 points.
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