Hog Bulls Gaining Ground Following Weekend Trade Talks
Lean hog futures are popping higher so far on Friday, with 27 cents to $1.90 in the nearbys. USDA’s national average base hog negotiated price was reported at $94.33 on Monday morning, down $0.45. The CME Lean Hog Index was down 8 cents on May 8, at $89.99. The meeting...
Cotton Still Showing Gains at Midday
Cotton prices are showing gains at midday on Monday of 27 to 65 points, pulling back off of some early strength. Crude oil prices are trading with gains of $1.22/barrel. The US dollar index is back up $1.447 to $101.615. The meeting between US and China trade reps saw progress,...
Soybeans Rallying on Easing Trade Tensions and Friendly USDA Data
Soybeans are rallying on Monday’s midday, with gains of 20 to 27 cents. There was just 1 delivery issued against May futures on Friday night. The cmdtyView Cash Bean price is up 50 1/2 cents to $10.21 3/4. Soymeal futures are up $4.20 so far on the day, with Soy...
Wheat Extending Weakness Following Larger USDA Numbers
Wheat futures are extending the weakness into the new week, with contracts down across the three exchanges. Chicago SRW futures are posting Monday losses of 2 to 3 cents so far on the day. There were 5 deliveries against May CBT wheat on Friday evening. Kansas City HRW futures are...
Corn Higher Following USDA Release
Corn futures are holding onto midday gains so far on Monday, with a friendlier than expected USDA report. Contracts are 2 to 5 cents higher. There were 12 deliveries issued against May on Friday night. They expire on Wednesday. The nearby CmdtyView national average Cash Corn price is us 2...
Cattle Rallying Following Weekend Trade Talks and Import Suspension
Live cattle futures are in rally mode so far at Monday’s midday with gains of $1.65 to $1.95. Cash trade settled in last week $218-220 in the South, with northern action at $225-228. Feeder cattle futures are also rallying, with contracts up $3.82 to $4.75. CME Feeder Cattle Index was...
Cattle Traders Look to React to Import Suspension
Live cattle futures closed Friday mixed, as nearby June was held up by the stronger cash action, up 42 cents, with other contracts down 40 to 55 cents. June was up $3.57 on the week. Friday’s preliminary open interest dropped 6,191 contracts, mostly out of the June (-9,231). Cash trade...
Corn Posting Monday AM Strength
Corn futures are showing some buying early on Monday morning, up 2 to 4 cents. The corn market finished off the week of losses with bears taking some money off the table. Contracts were up 2 to 4 cents across most months, with July falling 19 ¼ cents (4.10%) last...
Cotton Rallying Following Trade Meeting
Cotton price action early on Monday is showing gains of 120 to 145 points, following a productive meeting with the US and China. Futures slipped back on Friday, with contracts down 8 to 15 points at the close, as July was down 180 points last week. Crude oil prices were...
Hogs Look to New Week
Lean hog futures saw mixed action on Friday, with contracts down 27 cents to up 40 cents. June was down $1.77 last week. USDA’s national average base hog negotiated price was reported at $94.47 on Friday afternoon, up $0.45. The CME Lean Hog Index was back down 9 cents on...
Wheat Weakness Continuing on Monday Morning
Wheat futures continue to trade with losses early on Monday morning. The wheat market failed to join in on the corn and bean strength on Friday, with contracts falling lower. Chicago SRW futures posted Friday losses of 7 to 8 cents on the day, as July was down 21 ¼...
Soybeans Rallying as Trade Tensions Ease Over Weekend
Soybeans are rallying early on Monday, as contracts are up 16 to 20 cents. Bulls were gaining ground ahead of the weekend meeting with the US and China, as contracts were up 5 to 8 cents. July slipped back 6 ¼ cents on the week, with November unchanged. Friday’s preliminary...
Hogs Close the Week with Mixed Trade
Lean hog futures posted mixed action on Friday, with contracts down 27 cents to up 40 cents. June was down $1.77 this week. USDA’s national average base hog negotiated price was reported at $94.47 on Friday afternoon, up $0.45. The CME Lean Hog Index was back down 9 cents on...
Soybeans Push Higher on Friday
Soybean bulls were gaining ground ahead of the weekend meeting with the US and China, as contracts were up 5 to 8 cents. July slipped back 6 ¼ cents on the week, with November unchanged. The cmdtyView Cash Bean price was up 6 3/4 cents to $10.00 1/4. Soymeal futures...
Cotton Post Slight Weakness on Friday
Cotton futures slipped back on Friday, with contracts down 8 to 15 points at the close, as July was down 180 points this week. Crude oil prices were back up $1.14/barrel. The US dollar index was down $0.235 to $100.255. CFTC data showed specs cutting another 5,182 contracts from their...