Recent Livestock Analysis
Market Commentary
Turnaround Tuesday’s higher prices for grain and soy futures did not last long. An array of negative macro influences and forecasts for a week of favorable weather for the Plains and Midwest sent soy and wheat prices back near where they were at Monday’s close. Commodity prices in g...
Summary of Futures
Dec 18 Corn closed at $3.76/bushel, down $0.005 from yesterday's close. Sep 18 Wheat closed at $5.3225/bushel, down $0.095 from yesterday's close. Nov 18 Soybeans closed at $8.69/bushel, down $0.1075 from yesterday's close. Dec 18 Soymeal closed at $331.3/short ton, down $6.5...
Closing Bell Wrap-Up
Livestock futures were higher on modest support while grains futures gave back all of Turnaround Tuesday’s gains. Would that make today a Washout Wednesday? Regardless, falling crude oil, a higher dollar, and rising trade concerns left the CBOT trading in the red today. Wall s...
Market Commentary
Overnight trade in CME grain and soy futures bounced off yesterday’s closes in modest Turnaround Tuesday fashion, indicating that markets had absorbed the bearish news contained in last Friday’s August WASDE. Wheat contracts were the leader with 6-7 cent gains. Corn and soybeans fol...
Summary of Futures
Dec 18 Corn closed at $3.765/bushel, up $0.06 from yesterday's close. Sep 18 Wheat closed at $5.4175/bushel, up $0.0825 from yesterday's close. Nov 18 Soybeans closed at $8.7975/bushel, up $0.11 from yesterday's close. Dec 18 Soymeal closed at $337.8/short ton, up $9 from yest...
Closing Bell Wrap-Up
After two days of aggressive selling, the CBOT turned green as a Turnaround Tuesday got underway. Wheat and the soy complex (especially soymeal) lead the way higher and corn followed obligingly. Exports seem to be the market’s main focus now, with continuing drought in the Black Sea regio...
Market Commentary
Markets were lower in the Sunday evening session as the hangover from last Friday’s bearish USDA corn and soybean numbers continued. The wheat numbers that day were actually supportive, but wheat was the weakest market overnight and again today with double-digit losses throughout most of...
Summary of Futures
Dec 18 Corn closed at $3.705/bushel, down $0.0125 from yesterday's close. Sep 18 Wheat closed at $5.335/bushel, down $0.1325 from yesterday's close. Nov 18 Soybeans closed at $8.6875/bushel, up $0.07 from yesterday's close. Dec 18 Soymeal closed at $328.8/short ton, up $5.5 fr...
Smile! Despite the WASDE, Corn Still Leans Bullish
Over the past two weeks, WPI has started publishing a weekly article containing Implied Volatility “smile” charts for key agricultural commodities. The methodology for our research can be found here, and last week’s article here. This week, we’re providing two charts for...
Summary of Futures
Dec 18 Corn closed at $3.7175/bushel, down $0.11 from yesterday's close. Sep 18 Wheat closed at $5.4675/bushel, down $0.1775 from yesterday's close. Nov 18 Soybeans closed at $8.6175/bushel, down $0.4225 from yesterday's close. Dec 18 Soymeal closed at $323.3/short ton, down $...
Market Commentary
At the end of the day, it was all about what USDA had to say. That turned out to be another bearish report on corn and, especially, soybeans. The wheat numbers were somewhat positive. Markets were hoping USDA would make just modest upward yield adjustments for corn and soybeans, but it didn&rsq...
Market Commentary
Overnight trade was quiet as expected with traders looking to reduce risk and position in preparation for tomorrow’s mid-session WASDE release. Wheat and soybeans were lower overnight, but corn held on to small gains. Dalian soy complex and corn futures were once again quite strong, while...
Market Commentary
Turnaround Tuesday’s higher prices for grain and soy futures did not last long. An array of negative macro influences and forecasts for a week of favorable weather for the Plains and Midwest sent soy and wheat prices back near where they were at Monday’s close. Commodity prices in g...
Summary of Futures
Dec 18 Corn closed at $3.76/bushel, down $0.005 from yesterday's close. Sep 18 Wheat closed at $5.3225/bushel, down $0.095 from yesterday's close. Nov 18 Soybeans closed at $8.69/bushel, down $0.1075 from yesterday's close. Dec 18 Soymeal closed at $331.3/short ton, down $6.5...
Closing Bell Wrap-Up
Livestock futures were higher on modest support while grains futures gave back all of Turnaround Tuesday’s gains. Would that make today a Washout Wednesday? Regardless, falling crude oil, a higher dollar, and rising trade concerns left the CBOT trading in the red today. Wall s...
Market Commentary
Overnight trade in CME grain and soy futures bounced off yesterday’s closes in modest Turnaround Tuesday fashion, indicating that markets had absorbed the bearish news contained in last Friday’s August WASDE. Wheat contracts were the leader with 6-7 cent gains. Corn and soybeans fol...
Summary of Futures
Dec 18 Corn closed at $3.765/bushel, up $0.06 from yesterday's close. Sep 18 Wheat closed at $5.4175/bushel, up $0.0825 from yesterday's close. Nov 18 Soybeans closed at $8.7975/bushel, up $0.11 from yesterday's close. Dec 18 Soymeal closed at $337.8/short ton, up $9 from yest...
Closing Bell Wrap-Up
After two days of aggressive selling, the CBOT turned green as a Turnaround Tuesday got underway. Wheat and the soy complex (especially soymeal) lead the way higher and corn followed obligingly. Exports seem to be the market’s main focus now, with continuing drought in the Black Sea regio...
Market Commentary
Markets were lower in the Sunday evening session as the hangover from last Friday’s bearish USDA corn and soybean numbers continued. The wheat numbers that day were actually supportive, but wheat was the weakest market overnight and again today with double-digit losses throughout most of...
Summary of Futures
Dec 18 Corn closed at $3.705/bushel, down $0.0125 from yesterday's close. Sep 18 Wheat closed at $5.335/bushel, down $0.1325 from yesterday's close. Nov 18 Soybeans closed at $8.6875/bushel, up $0.07 from yesterday's close. Dec 18 Soymeal closed at $328.8/short ton, up $5.5 fr...
Smile! Despite the WASDE, Corn Still Leans Bullish
Over the past two weeks, WPI has started publishing a weekly article containing Implied Volatility “smile” charts for key agricultural commodities. The methodology for our research can be found here, and last week’s article here. This week, we’re providing two charts for...
Summary of Futures
Dec 18 Corn closed at $3.7175/bushel, down $0.11 from yesterday's close. Sep 18 Wheat closed at $5.4675/bushel, down $0.1775 from yesterday's close. Nov 18 Soybeans closed at $8.6175/bushel, down $0.4225 from yesterday's close. Dec 18 Soymeal closed at $323.3/short ton, down $...
Market Commentary
At the end of the day, it was all about what USDA had to say. That turned out to be another bearish report on corn and, especially, soybeans. The wheat numbers were somewhat positive. Markets were hoping USDA would make just modest upward yield adjustments for corn and soybeans, but it didn&rsq...
Market Commentary
Overnight trade was quiet as expected with traders looking to reduce risk and position in preparation for tomorrow’s mid-session WASDE release. Wheat and soybeans were lower overnight, but corn held on to small gains. Dalian soy complex and corn futures were once again quite strong, while...