Commentary
Soybeans Collapse on Wednesday, as Forecasts Remain Wet
Soybeans posted losses of 13 ½ to 34 cents on Wednesday, with front months leading the charge. The cmdtyView national average Cash Bean price was 31 3/4 cents lower at $11.46 ¼. Soymeal futures were $2.50 to $5.00 lower across the front months, with Soy Oil futures down 30 to...
Cattle Post Gains on Wednesday
Live cattle futures closed the Wednesday session, with contracts continuing to bounce from Monday’s weakness, up 42 cents to $2.07 higher. Early bids of $228 were reported this week though trade has been inactive. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,054 head offered and...
Hogs Fall Lower on Wednesday, as Pork Slips
Lean hog futures faced weakness on Wednesday, with contracts $1.37 to $2.57 lower. USDA’s national base hog price was reported at $101.79 on Wednesday afternoon, up 79 cents from the day prior. The CME Lean Hog Index was another 12 cents higher on July 24 at $98.35. USDA’s pork carcass...
Cotton Falls on Wednesday
Cotton futures were weaker on Wednesday, with contracts 67 to 119 points lower. Crude oil was back up $5.34 per barrel, with the US dollar index was 0.586. The Fed left rates unchanged on Wednesday’s announcement. The next 7 days looks for a drier forecast in TX, with the delta...
Corn Pushes Lower on Wednesday
Corn futures gave back the bounce from Tuesday, with contracts closing the Wednesday session down 2 to 9 ½ cents, led by the nearbys. The CmdtyView national average Cash Corn price was down 9 1/2 cents at $4.19 3/4. EIA’s weekly Petroleum Status Report showed ethanol production up another 39,000...
Wheat Closes Mixed on Wednesday, with Spring Wheat Heading Higher
The wheat complex posted mostly lower trade on Wednesday with the spring wheat contracts holding higher. Chicago SRW contracts were lower on the midweek session with losses of 1 1/2 to 3 1/2 cents. KC HRW futures were down 3/4 to 3 3/4 cents lower on Wednesday. MPLS spring wheat...


  


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