Commentary
Cotton Posting Modest Gains on Wednesday
Cotton futures are trading with midday gains of 14 to 20 points across the front months on Wednesday. Crude oil is back up $2.06 per barrel on the session, with the US dollar index $0.074 higher. The Cotlook A index was back up 10 points on Tuesday at 93.35. ICE...
Corn Falling at Midday, as USDA Reports Larger than Expected Stocks
Corn futures are falling nearly 2/3 of the daily limit on Wednesday’s midday, with contracts down 18 to 20 1/4 cents following USDA’s quarterly stocks report. The CmdtyView national average Cash Corn price is down 20 cents at $4.59 1/2. The quarterly Grain Stocks report from NASS showed September 1...
Cattle Rallying on Wednesday
Live cattle futures are posting gains of $2.17 to $2.60 across the front months on Wednesday. Cash trade saw some light $348-350 action in the North so far this week as reported by USDA. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,586 head offered and...
Hogs Fading Back on Wednesday
Lean hog futures are trading with midday 12 to 45. USDA’s national base hog price was tallied at $77.46 in the Wednesday AM report, down 55 cents from the day prior. The CME Lean Hog Index was down another 27 cents on September 28 at $80.94. USDA’s pork carcass cutout...
Soybeans Fading Post-USDA Report Gains on Spillover Pressure
Soybeans got a friendly stocks number on Wednesday, but bulls are fading the data, with fractional losses at midday. Sharp losses in corn are a spillover pressure factor. The cmdtyView national average Cash Bean price is down 1 1/2 cents at $12.42 1/4. Soymeal futures are down 20 to 40...
Wheat Selling a Tighter Stocks Number
The wheat complex is ignoring the USDA Grain Stocks report showing tighter stocks with losses across the three exchanges. Chicago SRW is showing losses of 15 to 17 cents at midday. KC HRW futures are falling 10 to 12 cents. MPLS spring wheat is trading with midday losses of 6...


  


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