- Hog Futures Close Firm and Mixed
- Dec hogs were the largest mover on Monday for the front month futures, having dropped 35 cents. The other nearby contracts were within 10 cents of UNCH on a firm close. Feb printed a $2.08 range on the day from -60c to +$1.48. USDA’s National Average Base Hog Price for...
- Cotton Bounces into New Week
- After last week’s rally stalled on a Friday pullback, Monday’s session settled with 60 to 67 point gains. The front months did pull back from their intraday highs, as March went home 150 points off the high. The weekly Commitment of Traders data release had managed money cotton traders 14,913...
- Mixed Close for Monday Live Cattle
- The Dec and Feb contracts settled red on Monday, with Dec live cattle giving back 12 cents no First Notice Day. The deferred contracts stayed in the black during the afternoon pullback, ending 7 to 17 cents higher on the day. USDA confirmed very limited cash trade on Monday, citing...
- Wheat Weakness Continued through Monday
- Front month wheat futures were down 1.1% to 3.3% across the 3 classes. CBT SRW ended the day with 21 3/4 to 22 1/2 cent losses. HRW futures in KC dropped 24 3/4 to 29 cents on the day. Spring wheats ended firmer with 10 1/4 to 19 1/4 cent...
- Corn Hits New Low for the Move
- Corn worked lower to start the new week, with March seeing price levels untouched since August 22nd. The board did close 3 cents off the day’s low, but prices were still 2 1/2 to 6 1/4 cents weaker on Monday. Oats Futures Prices were the dog for commodity futures starting...
- Soy Products Shift Value on Monday
- Soybean oil continued to fade in the new week of trading. Futures closed 217 to 269 points lower across the front months. For Jan BO, that was the lowest since October 13th. Meal on the other hand rallied through Monday, ending the day within $2 of the daily high on...
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August USDA Report
USDA pegs wheat ending stocks 29 million bushels lower off an increase in exports.Yield per acre was raised slightly as well from 47.3 to 47.5 bushels.
Soybean stocks finished 15 million bushels higher. This was mainly driven by a 26 million bushel projected increase in soybean production.
Corn was the biggest mover in ending stocks on this report. The USDA pegged its ending stocks 82 million bushels lower at 1388 million. Once again this was mainly driven by a change to production projections.
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