Front month soy futures were weaker on Wednesday led by the soy oil futures. Soy Oil futures closed more than 70 points weaker with 1.5% losses. Beans were down by 4 ¾ to 7 ½ cents across the front months on Wednesday. Soymeal futures closed the day off the session...
Nearby corn prices were 5 ¾ cents lower at the close on Wednesday, leaving the board 12 cents in the red for the week’s move. Open interest continues to rise ahead of Thursday’s reports, up 2,573 contracts on Tuesday’s lower market. EIA reported ethanol output averaged 1.054 million barrels per...
Nearby lean hog prices were 12 to 62 cents higher across the front months, leaving June with a $1.90 weekly gain into the quarterly Hogs and Pigs report. USDA’s National Average Afternoon Base Hog price was $1.37 weaker to $79.26. The CME Lean Hog Index was $83.69 for 3/25, back...
The old crop market faded by more than 2 pennies per pound on Wednesday, though the new crop futures firmed up off their session lows for the bell. New crop prices were still 82 to 96 points in the red, though Dec was 33 points off the low. The Seam...
Midweek trading initially pushed the cattle market further lower, but futures firmed up to end the day in the black. Fat cattle were 20 to 50 cents higher at the bell, and feeders were up by as much as $1.42. USDA confirmed some light cash trade on Wednesday mostly near...
KC wheat futures ended the day mixed within 1 ¾ cents of UNCH. The soft red winter wheat futures were 2 ½ to 4 cents higher and hard red spring wheat was 3 ¾ cents higher on the day. May SRW is sitting with a 7 ¼ cent loss for...
Lean hogs were initially gaining for Wednesday, though prices faded back into midday. Futures are still 27 to 57 cents in the black. USDA’s National Average Base Hog price was $1 weaker to $80.02 this morning. The CME Lean Hog Index was $83.48 after an 11 cent drop. USDA will...
The midday soy market is trading mostly lower, though meal is off the lows and in the black. Soybean futures are still down by 3 ¼ to 5 ½ cents, though futures have recovered a nickel from their session lows. Futures gapped lower at the overnight open. Midday Soymeal futures...
The wheat board is showing gains for Chicago and Minneapolis at midday. Futures initially were pushing lower for Wednesday, but SRW is trading 7 cents off the lows for fractional to 1 ¾ cent gains. KC Wheat is mixed within 2c of UNCH across the front month contracts. MGE wheat...
Front month fat cattle are ~$1 off their lows for midday, but are still 20 to 60 cents in the red through Wednesday. That has the June contract sitting $5.22 in the red for the week’s move. Midday feeder cattle are mixed but mostly lower, within 30c of UNCH for...
Corn futures are falling by 3 to 3 ¾ cents through Wednesday’s midday. May was down by 5 cents earlier in the day. Open interest continues to rise ahead of Thursday’s reports, up 2,573 contracts on Tuesday’s lower market. EIA reported ethanol output averaged 1.054 million barrels per day during...
Old crop cotton futures are at or near their lows for the day with more than 200 point losses so far. New crop futures are also triple digits in the red for the midweek pullback. Dec is now sitting at an 85 point loss for the week’s move. The 3/26...
Cotton is trading back down by as much as 108 points this morning, which has May’s weekly gain at 86 points at midweek. Old crop cotton closed 80 points off the Tuesday session highs, but still 116 to 139 points in the black. New crop futures were also 10 to...
Soybean prices are starting off Wednesday with another 3 ¾ to 6 cent weakness. The July ’24, Aug ’24, and Jan ’25 contracts held over the $12 mark for the close despite 7 to 10 ¼ cent losses on Tuesday. The other front months were below the round number and...
Live cattle futures were $3.10 to $3.55 lower across the front months on Tuesday. The June contract bumped against the 100-day moving average for the session low – which was the weakest print since late January. Feeders also fell by as much as 2.13% across the front months with $5...