Commentary
- Corn Backing Off Early Gains for Fractional Midday Losses
- Corn futures are pulling back from the early gains on Friday, as contracts are fractionally lower in the nearbys. Contracts closed Thursday with 4 to 6 cent gains. Some of that was possibly short covering, with preliminary open interest down 12,249 contracts. September was a large part of that, down...
- Soybeans Mostly Weaker on Friday
- Soybeans are back to mixed action on Friday, with mostly weaker trade showing up. August is up 1 ¼ cents, with the rest down 3 to 4 cents. Open interest was up 20,965 contracts on Thursday, suggesting net new buying interest. The cmdtyView national average Cash Bean price is own...
- Cattle Bulls Taking a Long Weekend
- Live cattle futures are falling $4.50 to $4.80 at Friday’s midday. There were no deliveries issued for August live cattle on Wednesday. The Friday morning Fed Cattle Exchange online auction showed BidTheGrid™ sales of 240.50-245 on 220 of the 600 head offered. Feeder cattle futures are collapsing, with contracts down...
- Cotton Bulls Pushing Back on Friday
- Cotton futures are trading with 12 to 23 point gains so far on the Friday. The US dollar index is back down $0.189 to $98.040, as crude oil futures are up 26 cents. The Cotlook A Index was down 25 points at 78.00 cents on August 6. ICE cotton stocks...
- Wheat Posting Mixed Action
- The wheat complex is mixed at midday, with the winter wheats slipping bck and soring wheat posting gains. KC HRW futures are slipping back by2 to 3 ¼ cents at midday. CBT futures are trading with contracts down 1 to 2 cents. MPLS spring wheat is trading with 4 to...
- Hogs Mixed at Midday
- Lean hog futures are mixed so far on Friday, with contracts up a dime to 35 cents to lower movement on the winter months. Preliminary open interest was up 2,799 contracts on Thursday. USDA’s national base hog price was reported at $106.63 on Friday morning, slipping 85 cents from the...
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