DTN Chart Technical Points 04/30 16:30 DTN FUTURES 10 4/30/24 SLOW STOCHASTIC
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 04/30/24 VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
USDA'sannouncement thattheirnow testing ground beef for traces of avian influenza did not sit well with the cattle complex and ultimately led traders to dumpboththe live cattle and feeder cattle contracts lower byTuesday'send.Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $2.40 with a weighted average price of $92.03 on 6,186 head.
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Tue, April 30 Exchange rate was 1.3748 up 0.0100
FARM MARKET NEWS - CORN REPORT FOR Tue, April 30 Exchange rate was 1.3748 up 0.0100
July corn closed down 2 1/2 cents and December corn was down 3 1/4 cents. July soybeans closed down 19 cents and November soybeans were down 18 1/2 cents. July KC wheat closed down 15 1/4 cents, July Chicago wheat was down 5 1/4 cents and July Minneapolis wheat was down 3 1/2 cents.
The cotton market was materially lower Tuesday amid end-of-month selling, as well as new emerging interest rate fears.
The livestock complex has been under pressure since Tuesday's startandas the market nears Tuesday's noon hour -- the intensity of the market's technical pressure has only grown stronger. No asking prices are noted yet in the cash cattle market, but trade will likelybe delayeduntil the second half of the week.
April 30, 2024 Portland Price Trends
Corn trade is 3 to 4 cents lower. Beans are 19 to 20 cents lower and wheat trade is 4 to 14 cents lower. The U.S. stock market is firmer at midday with the S&P 30 points lower. The dollar index is up 50 points.