Corn futures are trading lower with export sales at the lowest level of the last three years for this week. The trade was expecting corn export sales of 1.0-1.3 MMT this morning but USDA put the actual net sales at 156,100 MT for 2012/12 marketing year and 325,900 MT for 2012/13 marketing year or... (full story)
Soybeans are currently trading higher on both old and new crop. Futures are still above the 100 day moving average on old crop but below the average on new crop. Soybean meal and oil are also higher. The aggressive Chinese import campaign is having the desired effect on their domestic prices, but... (full story)
Wheat is trading are trading higher but off earlier session highs and trading near the lower end of their session price range. Traders were expecting export sales for last week at 330,000-550,000 MT. USDA put the actual figure at 72,400 MT for the tail end of the 2011/12 marketing year, a... (full story)
Cattle futures are trading off their highs but still plus for the day. Wholesale beef prices were higher this morning. Boxed beef prices were up $0.57 for Choice and $0.07 higher for Select. The wholesale market acts like that extra cooler inventory may not be available to the market. Beef export... (full story)
Lean Hogs are trading mixed with the June contract lower and other months higher. The Cutout has lost $2.94 so far this week with pork demand falling short of supply. Loins and Ribs typically peak out this week this time of year and make up a large portion of the demand market. Loins then... (full story)
Cotton prices are trading higher rebounding from the past three day sell off on some profit taking heading into the long weekend. Markets will be closed Monday in observance of Memorial Day. Futures hit a new two-year low this week, hurt by a stronger dollar and perception of a dramatically over... (full story)
Corn futures are trading steady to 1/2 cent lower on most contracts with the spot month 1/4 cents higher this morning. This market is getting help from the recently higher wheat prices which make corn a better buy for feed use this summer than was anticipated by the USDA. If the spread remains... (full story)
Soybeans are currently trading 14 3/4 cents higher. Old crop prices were lower yesterday but did firm in the overnight action. Futures are still above the 100 day moving average. The aggressive Chinese import campaign is having the desired effect on their domestic prices, but also may be slowing... (full story)
Wheat is trading 5 to 7 cents higher. Rain entered the extended forecast for some of the troubled areas in the Great Plains and also in Russia. Merchants still expect the beginning of harvest in the largest state (Kansas) to put pressure on the cash market, unless we see more lower-than-expected... (full story)
Cattle futures are currently 25 to 27 cents lower after they posted triple digit losses in the front three contracts yesterday. Spec traders reacted negatively to the USDA Cold Storage report. The stronger dollar definitely hurts US competitiveness. Wholesale beef prices were firmer on light to... (full story)
Lean Hogs are trading 12 to 27 cents lower. June futures were down $1.40 yesterday on pessimism about surplus pork supplies. October futures on out were higher. The CME lean hog index for 5/18 was $83.23, up $1.21 from the day before. The national average base price is $81.30, $1.70 lower.... (full story)
Cotton prices are trading 89 points higher this morning after being significantly lower again yesterday, with all contracts except Dec and Mar losing at least 300 points. Futures are on expanded limits after July and Dec closed the 300 limit lower on Tuesday. Futures hit a new two-year low, hurt... (full story)
Corn futures hung in there at steady to slightly higher despite the stronger dollar and general sell off in commodities from the potential for a Greek exit from the Euro. This market is getting help from the recently higher wheat prices which make corn a better buy for feed use this summer than... (full story)
Soybeans came back from earlier losses to close 19 to 24 cents lower. Old crop prices were lower again today but still above the 100 day moving average. The chance of rain in the forecast eased concerns about uneven emergence and bean seeds laying in dry dirt. Outside markets were also an... (full story)
Wheat settled mostly 12 to 17 lower in Chicago. A consulting group lowered projected Russian wheat production to 53 MMT. USDA was at 56 MMT in the May report. The same group lowered projected Russian exports to 14 MMT vs. the current USDA number of 18 MMT. Rain entered the extended forecast for... (full story)
Cattle futures posted triple digit losses in the front three contracts. This was mostly due to the bearish USDA Cold Storage report. It showed frozen beef stocks up 17% from a year ago and up 3% from the previous month, when we usually see a slight decline this time of year. The strong dollar... (full story)
Lean Hogs were down $1.40 in the nearby and higher from October on out. The CME lean hog index for 5/18 was $83.23, up $1.21 from the day before. A Bearish Cold Storage report showed pork supplies in April were the largest since August 2009. Frozen pork stocks on April 30 were up 20% from last... (full story)
Prices were again significantly lower, with all contracts except Dec and Mar losing at least 300 points. Futures are on expanded limits after July and Dec closed the 300 limit lower on Tuesday. An EU finance ministers meeting today is expected to accomplish little, but was causing some hedge... (full story)
Corn futures were hanging in there at steady to slightly higher despite the stronger dollar and general sell off in commodities from the potential for a Greek exit from the Euro. New crop has now faded a little. This market is getting help from the recently higher wheat prices which make corn a... (full story)
Soybeans are trading roughly 28 cents lower this morning. Old crop prices are lower again today, still above the 100 day moving average. The chance of rain in the forecast levied concerns about uneven emergence and bean seeds laying in dry dirt after it was already wet enough for germination to... (full story)