Commentary
- Cotton Rallying Early on Wednesday
- Cotton prices are trading with 88 to 139 point gains so far on Wednesday morning. Futures posted Tuesday gains of 20 to as much as 127 point gains on Tuesday, led by the thinly trade May contract. Crude oil futures were back up $1.13/barrel, with the US dollar index back...
- Wheat Slide Continuing on Wednesday
- Wheat is trading with mostly weaker action so far on Wednesday morning. The wheat complex was weaker across the three market on Tuesday. Chicago SRW futures posted 2 to 3 cent losses on the day. Kansas City HRW contracts slipped 4 to 6 cents into the close. MPLS spring wheat...
- Cattle Rally Back on Tuesday
- Live cattle futures were up $1.60 to $2.55 at Tuesday’s close. Preliminary open interest was up 5,042 contracts on Tuesday. Cash trade has been quiet so far this week. Last week was reported at $208-210 in the South and $212-214 in the North. Feeder cattle futures were rallying back on...
- Hogs Push Higher on Tuesday
- Lean hog futures closed on Tuesday, with contracts up $1.20 to $2.25 as the cash market was pushing higher. Preliminary open interest was up 9,034 contracts on Tuesday. USDA’s national average base hog negotiated price was reported at $90 on Tuesday afternoon, up $6.41 from the previous day. The CME...
- Soybeans Holding Near Steady Early on Wednesday
- The soybean market is trading with contracts mixed, as front months are slightly higher and new crop slightly lower. Soybean futures popped higher on Tuesday, with contracts fractionally to 6 cents higher, led by the nearbys. Preliminary open interest was down 2,383 contracts on Tuesday, with May dropping 17,249 contracts....
- Corn Weakness Leaking into Wednesday
- The corn market is heading lower on Wednesday, with losses of 2 to 3 cents so far on Wednesday morning. Corn futures ended the Tuesday session with contracts down 6 to 7 cents. New crop December was down 6 ½ cents, as they try not to bid up for too...
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