Corn Rallies into Tuesday’s Close
Corn futures were helped by a stronger wheat complex on Tuesday, as contracts closed with 6 to 7 cent nearby gains. The front month CmdtyView national average Cash Corn price was up 7 1/4 cents at $4.27. EIA will release their weekly ethanol production update on Wednesday, with the trade...
Cattle Close Mixed
Live cattle futures ended the Tuesday session on a mixed note, as contracts were anywhere from 22 cents higher to 7 cents lower in the nearbys. Cash trade has yet to see a broad test this week, with some light $219 KS sales reported on Monday. Last week’s Southern sales...
Soybeans Close with Gains on Tuesday
Soybeans saw higher trade at Tuesday’s close, with contracts up 2 to 4 cents across most front months. The cmdtyView Cash Bean price was up 2 ¼ cents to $10.03 1/2. Soymeal futures were up 70 cents to $1.50/ton on the day, with Soy Oil futures closing up 6 to...
Wheat Post Double Digit Strength on Tuesday, Likely Spurred by Short Covering
The wheat complex posted a fresh round of buying on Tuesday, with double digit gains across all three exchanges. Chicago SRW futures were up 16 to 17 cents on the session. Kansas City HRW contracts closed with 13 to 14 cent gains. Minneapolis spring wheat futures were 11 to 13...
Hogs Close Mixed, but Off the Lows
Lean hog futures closed out Tuesday with contracts up 77 cents in June and steady to a dime lower in other nearbys. USDA’s national average base hog negotiated price was reported at $93.40 on Tuesday afternoon, back up 89 cents from the day prior. The CME Lean Hog Index was...
Cotton Closes Higher on Tuesday
Cotton futures had some outside market support on Tuesday, with contracts up 30 to 50 points. Crude oil prices were up 12 cents, with the US dollar index down another $0.413 to $99.875. NASS pegged the US cotton crop at 40% planted as of Sunday, slightly behind the 5-year average...
Corn Popping Higher at Midday
Corn futures are getting some help via double digit gains in the wheat market, as contracts are up 5 to 6 cents at midday. The front month CmdtyView national average Cash Corn price is up 5 1/2 cents at $4.25 1/4. Crop Progress data showed the US corn crop at...
Cotton Fading Off Overnight Weakness for Midday Gains
Cotton futures are ignoring the overnight weakness at Tuesday’s midday, with contracts 45 to 60 points higher. Crude oil prices are showing steady trade at midday, with the US dollar index down another $0.128 to $100.160. NASS pegged the US cotton crop at 40% planted as of Sunday, slightly behind...
Soybeans Bulls Holding Their Ground at Midday
Soybeans are trying to sneak out some gains at Tuesday’s midday, with contracts 1 to 4 cents higher. The cmdtyView Cash Bean price is up 1 ½ to $10.03 3/4. Soymeal futures are up $2.10/ton so far on the day, with Soy Oil futures back down 16 points at midday....
Wheat Rallying on Tuesday
Wheat futures are trading with Tuesday midday gains across the three exchanges as a drop in ratings is giving some shorts a reason to cover. Chicago SRW futures are up 16 to 18 cents so far on the session. Kansas City HRW contracts are 15 to 16 cents in the...
Cattle Holding Steady as Beef Pushes Higher
Live cattle futures are posting 15 to 55 cent gains so far on Tuesday. Cash trade has yet to see a broad test this week, with some light $219 KS sales reported. Last week’s Southern sales were $218-220 and $229 in the north. Feeder cattle futures are 45 to 70...
Hogs Back to Mixed Tuesday Action after Early Weakness
Lean hog futures are shrugging off sharper early losses, with contracts 40 cents higher to 50 cents lower at midday. USDA’s national average base hog negotiated price was reported at $94.51 on Tuesday morning, back down 40 cents from the day prior. The CME Lean Hog Index was up another...
Soybeans Steady on Tuesday AM Trade
Soybeans are trading with early Tuesday action close to unch, with contracts fractionally mixed. The soybean market saw slight gains on Monday, with contracts steady to 2 cents in the green at the close. Preliminary open interest suggested a rotation of ownership, up 1,332 contracts on Monday. The cmdtyView Cash...
Cotton Slightly Lower to Start Tuesday
Cotton price action is showing steady to 5 point losses in the front months early on Tuesday. Futures closed out the Monday session with contracts 65 to 75 points higher. Crude oil prices were up $0.21/barrel. The US dollar index was back down $0.726 to $100.220. NASS pegged the US...
Cattle Traders Look to Tuesday Following Mostly Higher Monday
Live cattle futures saw higher trade on Monday, with contracts rallying 75 cents to $1.20. Preliminary open interest was up 1,329 contracts, with August up 3,176 contracts. Cash action was quiet on Monday, with last week’s Southern sales $218-220 and $229 in the north. Feeder cattle futures were mixed on...