Morris, Illinois (60450)
- Cattle Futures Lower Despite Discount to Cash
- Live cattle futures closed mostly 25 cents to 52 cents lower on Monday. June was down just 7 cents to $120.97, due to a strong basis. CME data showed no deliveries against June fat cattle futures through June 18. The oldest long is still dated 12/18. USDA reported very limited...
- Cotton Trading Both Sides of UNCH
- Cotton futures start the day 3 points lower to 3 points higher from overnight adjustments. Yesterday, new crop cotton closed firm with 1 to 7 point gains. Old crop July fell 33 points. The weekly CoT report showed managed money at 42,685 contracts net long in cotton on 6/15. That...
- Corn Futures 3 to 7 Cents Lower in Early Tuesday Trade
- Corn futures initially tried to gap a couple cents higher last night but are now trading 3 ½ to 7 ¼ lower. Corn futures had ended the Monday session mixed with a 4 cent gain in July, but with 9 1/4 to 9 1/2 cent new crop losses. Preliminary open...
- Soybeans Fade Monday Gains, But Nearby July Firm
- Soy futures are mostly 1 to 5 cents lower this morning, with nearby July up 1 cent as traders exit in front of Friday’s options expiration. On Monday, soybean futures were double digits stronger in old crop, and 6 1/4 to 8 1/4 cents higher for new crop. Soymeal prices...
- Strong Early Gains in Minneapolis Wheat Drag Others Higher
- Wheat futures are higher this morning, but it depends greatly which market you are using. MPLS spring wheat futures are up 23 to 30 cents following a sharp drop in condition ratings. KC HRW is being harvested already, and up 3 to 4 cents. Chicago SRW is also in early...
- Profit Taking Continues in Hogs After Extended Rally
- Triple digit losses on Monday will have the board back to expanded $4.50 limits for the Tuesday session. Long liquidation continued, dropping open interest 2,923 contracts. USDA’s National Average Base Hog price for Monday afternoon was $123.57 after a $0.95 recovery. The CME Lean Hog Index for 6/18 was $120.68 after...