Cattle Pop Higher on Monday, USDA Announces Border Reopening
Live cattle futures posted gains of 35 cents to $1.12 on Monday session. Cash action was mostly compiling showlists on Monday. Trade last week saw sales at $230-233 in the North and $223-225 in the South. Feeder cattle futures closed out the Monday session with contracts $2.70 to $2.80 in...
Corn Pulls Back on Monday, as Acres are Trimmed but Ratings Improve
Corn futures closed out the Monday session with losses of 1 to 3 cents across most contracts, as an acreage cut failed to provide the bulls with much fuel. The front month CmdtyView national average Cash Corn price was down 2 3/4 cents at $3.91 1/4. Crop Progress data indicated...
Soybeans Post Marginally Mixed Trade on USDA Report Day
Soybeans closed the Monday session mixed with nearby contracts down 3 ¾ cents and new crop up 2 to 3 cents. The cmdtyView national average Cash Bean price is down 3 3/4 cents at $9.81 1/2. Soymeal futures were up 20 cents to $1.30 higher on the day, as Soy...
Hogs Pull Back On Monday, Pressured by Cutout
Lean hog futures were down $2.22 to $3.15 on Monday. USDA’s national base hog price was up $3.79 in the Monday afternoon report, with negotiated trade at $111.88. The CME Lean Hog Index was 13 cents higher at $112.02 on June 26. USDA’s Monday afternoon FOB plant pork cutout value...
Wheat Falls to Weakness on Larger June 1 Stocks
Wheat saw weakness to kick off the week as all three contracts were lower following larger than expected stocks. Chicago SRW wheat was down 2 to 4 cents to close out the day. KC HRW contracts were 7 to 10 cents lower on Monday. MPLS spring wheat posted 5 to...
Cotton Collapses on Monday with Larger Acreage
Cotton posted triple digit losses on Monday, with contracts down 112 to 124 points on larger than expected acreage number reported. Crude oil was down $0.55/barrel, with the US dollar index $0.590 lower. Weekly Crop Progress data showed 95% of the US cotton crop planted (98% on average), with 40%...
Soybeans Showing Quiet Midday Trade with Non-eventful USDA Reports
Soybeans are failing to see much follow through on the smaller acreage number, as stocks were above estimates. Contracts are down 1 to 3 cents in the old crop months, with new crop November up just 1 ¼ cents at midday. There were 200 deliveries issued against July soybeans on...
Cotton Falling on Monday with Larger Acreage Number
Cotton futures are showing weakness on Monday, with a larger than expected acreage number reported by the USDA. Contracts are down 110 to 139 points at midday with in delivery July up 45 points. Crude oil is down $0.58/barrel, with the US dollar index $0.376 lower The Friday afternoon Commitment...
Hogs Falling On Monday, with Cutout Pressure
Lean hog futures are down $2.17 to $2.80 at Monday’s midday. USDA’s national base hog price was up $4.66 in the Monday morning report, with negotiated trade at $112.51. The CME Lean Hog Index was 13 cents higher at $112.02 on June 26. CFTC data showed the managed money crowd...
Corn Slipping Even as Acres Hit Below Expectations
Corn is sticking withing a couple cents of unchanged so far on Monday’s midday, with the USDA reports a dud ahead of the July 4th holiday later this week. Contracts are up 1 ¼ to 3 cents at midday. The front month CmdtyView national average Cash Corn price is down...
Cattle Holding Firm on Monday
Live cattle futures are trying to extend some recent strength, with gains of 40 cents to $1.725 at midday in Monday. Cash trade last week saw sales at $230-233 in the North and $223-225 in the South. Feeder cattle futures are trading with $2.30 to $2.55 gains so far on...
Wheat Trading on Either Side of Unchanged
The wheat complex is trading with mixed action so far on Monday. Chicago SRW wheat is up 2 to down 2 cents so far. KC HRW contracts are 2 to 6 cents lower at midday. MPLS spring wheat is showing slightly positive trade on Monday. The Grain Stocks report from...
Cotton Squaring Up Ahead of USDA Data
Cotton price action is down 34 to 39 points early on Monday. Futures closed out the Friday session with contracts up 45 to 66 points, as July was 348 points higher. Crude oil is down $0.19/barrel, with the US dollar index up $0.113 The Friday afternoon Commitment of Traders report...
Hogs Shift Focus to New Week
Lean hog futures came back into the close after gapping lower at the open, as contracts closed 2 to 92 cents higher in the nearbys and down a quarter in October. July was up 47 cents on the week. USDA’s national base hog price was $108.09 in the Friday PM...
Wheat Falling on Monday Morning
Wheat is trading with contracts weaker. The wheat complex was mixed across the three markets on Friday. Chicago SRW wheat was 3 to 4 cents higher on the day, with July falling back 43 cents last week. July CBT wheat had just 10 deliveries on Monday’s first notice day. KC...