- 20 Cent Bounce for Friday Beans
- Soybean futures closed 19 3/4 to 23 cents higher on Friday. For the Jan contract, that left soybeans a net 6 1/2 cents higher than Monday’s open and 14 ½ higher week/week. Jan beans traded with a 55 3/4 cent range during the week. Soymeal futures closed the last trade...
- Wheat Traded Double Digits Weaker
- Friday’s wheat trading session left the board double digits weaker for the weekend. CBT SRW futures were 7 1/4 to 12 cents lower through the Sep ’22 contract, with March having given back 49 3/4 cents during the week. KC futures closed 11 to 18 cents lower on Friday, with...
- Friday Recovery for Corn Futures
- Corn prices extended their recovery on Friday, with 6 1/2 to 9 cent gains. For the December contract that left prices at a net wash after a 26 3/4 cent range week. March futures still ended the week 7 ¾ cents lower. USDA reported the average corn oil cash price...
- Cotton Gains for Weekend
- Front month cotton futures ended the Friday session with 40 to 117 point gains. Futures closed more than a penny off their high for the day. For March, the 104.2 cent close left prices a net 8.96 cents weaker for the week, and 14.3 cents off their LOC high from...
- Cattle Markets Close Red on Friday
- Fat cattle futures ended the Friday session with 22 to 62 cent losses through August ’22. The December contract was 2 cents stronger on Friday as the outlier. Dec deliveries begin Monday with FND. USDA mentioned some light $140-$142 catch up trade on Friday, but cited Wednesday and Thursday as...
- Lean Hog Futures Fall on Friday
- Front month lean hog futures traded 40 to 75 cents weaker on the day. For the Feb contract, that resulted in a net 47 cent loss from Monday’s open. USDA’s National Average Base hog price was $3.93 stronger to $61.80 on Friday. CME’s Lean Hog Index was $70.27 on 11/30,...
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November USDA Report highlights
Corn: USDA pegs yield at a record 177 bu/ac, slight increases in all demand items results in a small decrease in ending stocks from Oct report
Soybeans: USDA estimated the soybean yield slightly less than Oct. Demand was cut slightly which leaving ending stocks higher than Oct report but below trade expectations
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