Soybeans up modestly on commercial buying

Futures Markets copy

Soybeans were modestly higher on commercial and technical buying. Argentina has lost beans and while the amount is still unknown, the range of estimates is generally 5% to 15%. Informa currently has Argentina’s crop at 55 million tons, also reducing their outlook for Brazil. For Brazil, FC Stone has lowered its outlook to 96.5 million… Read more »

Milk futures, cash dairy mixed

Futures Markets copy

In Class III trade at the Chicago Mercantile Exchange, milk futures were mostly lower, with an eye on the fundamentals, but still consolidating a bit after the recent losses. May was down $.02 at $12.93, June was $.01 lower at $12.91, July was up $.03 at $13.15, and August was down $.03 at $13.77. Over… Read more »

A few bids are reported on the cattle

Futures Markets copy

A few scattered bids on the cattle were reported on a dressed basis in Nebraska from 188.00 to 190.00. Live bids were reported by private sources in Iowa at 120.00. A few asking prices have been noted in parts of the South at 127.00. It is looking like significant trade volume will be delayed until… Read more »

Closing Grain and Livestock Futures: May 4, 2016

Futures Markets copy

May corn closed at $3.73 and 1/4, down 5 cents May soybeans closed at $10.24 and 1/2, up 3 cents May soybean meal closed at $343.00, up $3.50 May soybean oil closed at 32.20, up 7 points May wheat closed at $4.60 and 1/2, up 3/4 cent Jun. live cattle closed at $117.45, up $1.07 Jun. lean hogs closed at $81.82, down $1.10 Jun. crude oil closed at… Read more »

Midday cash livestock markets

Futures Markets copy

DTN is reporting the first bid of the week on cattle at 188.00 to 190.00 in Nebraska on Wednesday, but the rest of cattle country is very quiet. A few steers and heifers in Texas have been priced at 127.00, but other areas are still holding off with asking prices. Choice boxed beef in the… Read more »

Soybeans, corn, wheat give back some gains

Futures Markets copy

Soybeans were lower on profit taking and technical selling, along with spillover from the outside markets. Beans took back a little of the recent gains after Monday’s move to more than one year highs. Argentina has lost a significant, but still unspecified, amount of beans after heavy rain, with estimates generally between 5% and 15%…. Read more »

Cattle trade at a standstill

Futures Markets copy

The cash cattle market remains untested on Tuesday afternoon. The wait continues for the first bid of the week. Asking prices are equally sketchy, probably somewhere around 126.00 to 128.00 in the South, and 200.00 plus in the North. Significant trade will most likely be delayed until late in the week. The kill was estimated… Read more »

Milk futures, cash cheese, GDT Index lower

Futures Markets copy

In Class III trade at the Chicago Mercantile Exchange, milk futures were lower under continued pressure from the bearish supply and demand outlook. May was down $.08 at $12.95, June was $.07 lower at $12.92, July was down $.19 at $13.12, and August was $.19 lower at $13.80. Over in the spot market, cash cheese… Read more »

Closing Grain and Livestock Futures: May 3, 2016

Futures Markets copy

May corn closed at $3.78 and 1/4, down 12 cents May soybeans closed at $10.21 and 1/2, down 14 cents May soybean meal closed at $339.50, down $5.80 May soybean oil closed at 32.13, down 6 points May wheat closed at $4.59 and 3/4, down 17 and 1/4 cents Jun. live cattle closed at $116.37, up 57 cents Jun. lean hogs closed at $82.92, up 22 cents Jun. crude oil closed… Read more »

Midday cash livestock markets

Futures Markets copy

Cattle country is at a virtual standstill on Tuesday with bids and asking prices not well established as of yet. With last week’s sufficient trade volume totals, significant business this week could be delayed until Thursday or Friday. Boxed beef cutout values are mixed, choice beef is down 1.54 at 208.23, and select is up… Read more »