Commentary
- Cotton Pulling Back Despite Weaker Condition Ratings
- Cotton price action is trading with 49 to 66 point losses on Tuesday morning. Futures started the week off with a little strength, as contracts were up 65 to 107 points at the close. Crude oil prices shot higher, up $2.25, with the US dollar index down $0.644 to $98.615....
- Corn Showing Early Tuesday Gains
- Corn price action early on Tuesday is 1 to 2 cents higher. Futures closed out Monday with contracts 2 to 5 ¾ cents in the red, as the bear spreading continues. Preliminary open interest on Monday was down 8,414 contracts, mainly in the July (-10,891) and December (-1,291). The front...
- Soybeans Showing Early Turnaround Tuesday Gains
- Soybeans are trading with contracts 2 to 5 cents in the green on Tuesday. Futures faced weakness for much of the session, as the wetter outlook and weaker products continue to pressure the market. Contracts closed with 7 to 10 cents losses. Preliminary open interest rose just 4,106 contracts. The...
- Wheat Slipping Back as Ratings Improve
- Wheat is trading with Tuesday AM weakness, as futures are backing off following the ratings improvement. The wheat market held onto the Monday gains at the close, with contracts posting positive trade. Chicago SRW futures were 5 to 7 cents higher. Monday’s Preliminary open interests suggested a rotation of ownership,...
- Cattle Posts Monday Rally
- Live cattle futures pushed higher on Monday, with contracts closing up $1.07 to $1.80. Preliminary open interest was up 2,007 contracts. Cash trade has yet to see much this week, with last week at $221-223 in the South and some up to $225, with business at $234-237 in the North....
- Hogs Look to Tuesday Following Mixed Monday Trade
- Lean hog futures closed mixed on Monday, with June down 47 cents. Other contracts were a nickel to $1 higher. Preliminary open interest was up 9,377 contracts on Monday, with June down 1,47 and July dropping 52. USDA’s national average base hog negotiated price was not reported on Monday morning...
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