Commentary
Cattle Rallying on Wednesday
Live cattle futures are rallying on Wednesday, with contracts up $2.85 to $3.52 at midday. Cash trade has been quiet this week. The Fed Cattle Exchange online auction showed no sales on the 1,272 head offered, with bids of $238-240 on the hoof and $375 in the beef. Feeder cattle...
Cotton Holding Higher on Wednesday
Cotton futures are trading with 15 to 28 point gains across the front months at Wednesday’s midday. Crude oil futures are down $0.94 per barrel on the day at $64.90. The US dollar index is down $0.010 to $96.665. The Seam showed sales on 10,876 bales sold on 2/10, averaging...
Hogs Extending Losses to Wednesday
Lean hog futures are trading with nearby February up a nickel and other contracts down $1 to $1.20. USDA’s national base hog price was reported at $88.28 on Wednesday morning, up $3.36 from the day prior. The CME Lean Hog Index was 14 cents lower on Feb 6 at $86.32....
Wheat Rallying on Wednesday
The wheat complex is pushing higher so far on Wednesday. Chicago SRW futures are trading with 5 to 7 cent gains so far. KC HRW futures are up 5 to 7 cents on Wednesday. MPLS spring wheat is steady to fractionally higher at midday Export Sales data from USDA will...
Corn Slipping Lower on Wednesday
Corn futures are down 1 to 2 cents so far on Wednesday, with new crop contract showing gains. The CmdtyView national average Cash Corn price was down 2 cents at $3.93 1/4. The average close for December futures in February has been $4.58, as the base spring price for crop...
Soybeans Pushing Higher at Midday, Shrugging off Early Weakness
Soybeans are 1 to 3 cents higher so far on Wednesday. The cmdtyView national average Cash Bean price is up 1 3/4 cents at $10.58. Soymeal futures are $2.30 to $2.60 higher on the day, with Soy Oil futures are 7 to 9 points in the green so far on...


  


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