Commentary
Cattle Mixed Ahead of CoF Report
Live cattle futures are trading mixed at midday, with front months up 42 to 55 cents and other contracts down 12 to 50 cents. Some southern cattle traded at $187 to $188.50 this week. Northern trade has yet to be widely established, with some sales of $310 in the beef...
Wheat Holding Gains at Midday
Wheat futures are showing modest strength on Friday, holding some of the overnight gains. Chicago futures are back up 6 to 8 cents at midday. Kansas City contracts are showing 4 to 6 ½ cent gains on the session. MPLS spring wheat is continuing its ascent, with midday gains of...
Corn Showing Just Fractional Midday Gains
Corn futures have backed off the earlier morning strength at midday, as contracts are now just up fractionally to a penny. The 7-day QPF from NOAA shows spotty rains over the next week, with some heavier totals nearing an inch in parts of eastern NE/SD and western IA over the...
Soybeans Reversing Morning Strength at Midday
Soybeans are back lower on Friday, after some strength in the overnight and early morning trade. Contracts are mostly 2 to 4 cents lower, with nearby August up ¼ cent. Soymeal futures are showing no change at midday. Soy Oil futures are still up 23 points at midday. USDA reported...
Hogs Extending Higher on Friday
Lean hogs are resuming this week’s climb on Friday, with midday gains of 47 cents to $1.45. The USDA National Base Hog price was reported at $82.33 on Friday morning, down 47 cents from the day prior. The CME Lean Hog Index was $89.27 on July 17, up 47 cents...
Cotton Triple Digits Lower at Midday
Cotton prices down 97 to 121 points so far at midday. Outside factors are pressuring things with the US dollar index up a modest 150 points. Crude oil is down $2.09 per barrel to add some pressure via the synthetic fiber market. Forecast rains over the southeast US this next...


  


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