Another down day for corn, soybeans, wheat

Futures Markets copy

  Soybeans were lower on fund and technical selling. Quarterly stocks were a lot smaller than expected at 92 million bushels, reflecting just how strong demand was last quarter. However, USDA did increase its numbers for last year’s crop and this year’s crop should be a new record. Contracts did try to rally, but couldn’t… Read more »

Pork ends higher but beef was steady to weak

Futures Markets copy

The cash cattle market remained untested with no bids evident. A few showlists are priced around 162.00 in the South and 252.00 to 255.00 plus in the North, Significant business will probably be delayed until at least Wednesday or Thursday. The kill totaled 115,000 head, 1,000 more than last week, and 7,000 less than last… Read more »

Closing Grain and Livestock Futures: September 30, 2014

Futures Markets copy

  Dec. corn closed at $3.20 and 3/4, down 5 cents Nov. soybeans closed at $9.13 and 1/4, down 10 and 1/4 cents Oct. soybean meal closed at $304.60, down $3.50 Oct. soybean oil closed at 32.27, down 52 points Dec. wheat closed at $4.77 and 3/4, down 3 and 1/2 cents Oct. live cattle closed at $160.45, down 50 cents Oct. lean hogs closed at… Read more »

Tuesday midday cash livestock markets

Futures Markets copy

It is a typical Tuesday in cattle country with bids and asking prices still not fully developed. However, private sources report a few showlists are being marked around 161.00 to 162.00 in the South, and 250.00 to 252.00 in the North. Packers appear to be extremely short bought given their limited procurement last week. But… Read more »

How far will dairy markets slide?

Futures Markets copy

Cash cheese and butter dropped again on the Chicago Mercantile Exchange on Monday.  Barrels fell 7.5 cents, blocks lost a nickel and butter dropped 9 cents.  Class III futures responded accordingly with October down 30 cents, November fell the 75-cent daily limit and December dropped 72 cents. The September all milk price increased 90 cents… Read more »

Soybeans, corn, wheat bounce higher

Futures Markets copy

  Soybeans were higher on short covering and technical buying. Traders were getting ready for the progress update and Tuesday’s quarterly stocks report. That said – beans are still looking at a bearish supply and demand outlook. USDA reports 69% of soybeans are dropping leaves, compared to the five year average of 71% and 10%… Read more »

Cattle futures settled with triple digit gains

Futures Markets copy

Activity in cattle country was extremely limited following the distribution of the new showlists. The offering appeared to be generally larger with only Texas showing fewer ready steers and heifers. Preliminary asking prices are around 161.00 to 162.00 in the South, and 250.00 to 252.00 plus in the North. It was a strange round of… Read more »

Closing Grain and Livestock Futures: September 29, 2014

Futures Markets copy

  Dec. corn closed at $3.25 and 3/4, up 2 and 3/4 cents Nov. soybeans closed at $9.23 and 1/2, up 13 and 1/4 cents Oct. soybean meal closed at $308.10, up 90 cents Oct. soybean oil closed at 32.79, up 87 points Dec. wheat closed at $4.81 and 1/4, up 7 cents Oct. live cattle closed at $160.95, up $2.50 Oct. lean hogs closed at $107.32, up 80 cents… Read more »

Monday midday cash livestock markets

Futures Markets copy

The confirmed cash cattle business was extremely light last week. Light to moderate business developed on Friday in parts of the North at 248.00 dressed, about $4.00 higher than the previous week’s weighted average Nebraska. There were also reports of a few cattle selling in the North at 159.00. There were no reports of Southern… Read more »

Solid week for corn, soybean inspections

Futures Markets copy

  USDA reports corn and soybean export inspections for the week ending September 25 were larger than what’s needed weekly to meet USDA projections for the 2014/15 marketing year, while wheat was short of its mark. Wheat came out at 573,647 tons, up 54,492 from the week ending September 18, but down 327,609 from the… Read more »