Recent Livestock Analysis
Smile! $4.00 Corn Futures Ahead?
The options market has correctly foreseen corn futures’ march higher since mid-September and is signaling this rally isn’t over year. The corn and SRW wheat markets are leaning bullish while the implied volatilities from soybeans offer a more neutral outlook. For live cattle futures...
Cattle on Feed
The cattle on feed (COF) inventory as of 1 October set a record for the month at 11.4 million head, which was also the fifth consecutive new monthly record and the 21st month in a row that the total was larger than the year before. As noted here prior to the report, September placements were e...
Market Commentary
Overnight markets finished with slight losses in corn and wheat but minor gains in soybeans on very light trading volume. Today’s session saw wheat make some 4-5 cent gains early with corn and soybeans lower. There was a report that President Trump and President Jinping will try to meet j...
Summary of Futures
Dec 18 Corn closed at $3.67/bushel, down $0.0375 from yesterday's close. Dec 18 Wheat closed at $5.1475/bushel, up $0.0175 from yesterday's close. Nov 18 Soybeans closed at $8.5675/bushel, down $0.0675 from yesterday's close. Dec 18 Soymeal closed at $313.1/short ton, down $3...
Cattle on Feed
USSA reported U.S. Cattle on Feed Up 5 Percent: Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.4 million head on October 1, 2018. The inventory was 5 percent above October 1, 2017. This is the highest October 1...
Export Sales
Wheat: Net sales of 476,000 metric tons for 2018/2019 were up 40 percent from the previous week, but unchanged from the prior 4-week average. Corn: Net sales of 382,500 MT for 2018/2019--a marketing-year low--were down 62 percent from the previous wee...
New Trade Deals Proposed; Cattle on Feed Pre-Report Estimates
New Trade Deals Proposed This week the U.S. Trade Representative (USTR) notified Congress of the administration’s intent to negotiate new trade agreements with Japan, the EU, and the UK. The notification is part of the statutory requirement under the Trade Promotion Authority (TPA) grante...
Market Commentary
Markets were lower overnight following yesterday’s declines, and they slipped a bit more after the weekly export sales report was released 15 minutes before that session closed. Corn and soybean exports sales were much lower than expected, but wheat sales were at the high end of the expec...
Summary of Futures
Dec 18 Corn closed at $3.7075/bushel, down $0.035 from yesterday's close. Dec 18 Wheat closed at $5.13/bushel, down $0.045 from yesterday's close. Nov 18 Soybeans closed at $8.635/bushel, down $0.2225 from yesterday's close. Dec 18 Soymeal closed at $316.3/short ton, down $7.4...
Summary of Futures
Dec Corn 2018 ($/bu) $3.7425 Dec Wheat 2018 ($/bu) $5.1750 Dec HRW Wheat 2018 $5.2100 Nov Soybeans 2018 ($/bu) $8.8575 Dec Soymeal 2018 ($/short ton) $323.70 Dec Soyoil 2018 (cents/lb) 29.56 Dec Live Cattle 2018 ($/cwt) $117.38 Jan Feeder Cattle 2019 ($/cwt) $149.08 Dec Lean Hogs 2018 ($/cwt) $...
Market Commentary
Price action in overnight trading and again during the day session can best be described as dull. Volume was low, and price movement was subdued. The corn market managed to trade a 3-cent range on both sides of Tuesday’s close before the December contract settled down a penny with most de...
Market Commentary
What Monday giveth, Tuesday taketh away – a colloquial way of saying that for grain and soy markets, today was Turnaround Tuesday. After Monday’s stout price rally, the turnaround began during the overnight session. Soybeans and corn traded quietly and mostly lower, while wheat trad...
Smile! $4.00 Corn Futures Ahead?
The options market has correctly foreseen corn futures’ march higher since mid-September and is signaling this rally isn’t over year. The corn and SRW wheat markets are leaning bullish while the implied volatilities from soybeans offer a more neutral outlook. For live cattle futures...
Cattle on Feed
The cattle on feed (COF) inventory as of 1 October set a record for the month at 11.4 million head, which was also the fifth consecutive new monthly record and the 21st month in a row that the total was larger than the year before. As noted here prior to the report, September placements were e...
Market Commentary
Overnight markets finished with slight losses in corn and wheat but minor gains in soybeans on very light trading volume. Today’s session saw wheat make some 4-5 cent gains early with corn and soybeans lower. There was a report that President Trump and President Jinping will try to meet j...
Summary of Futures
Dec 18 Corn closed at $3.67/bushel, down $0.0375 from yesterday's close. Dec 18 Wheat closed at $5.1475/bushel, up $0.0175 from yesterday's close. Nov 18 Soybeans closed at $8.5675/bushel, down $0.0675 from yesterday's close. Dec 18 Soymeal closed at $313.1/short ton, down $3...
Cattle on Feed
USSA reported U.S. Cattle on Feed Up 5 Percent: Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.4 million head on October 1, 2018. The inventory was 5 percent above October 1, 2017. This is the highest October 1...
Export Sales
Wheat: Net sales of 476,000 metric tons for 2018/2019 were up 40 percent from the previous week, but unchanged from the prior 4-week average. Corn: Net sales of 382,500 MT for 2018/2019--a marketing-year low--were down 62 percent from the previous wee...
New Trade Deals Proposed; Cattle on Feed Pre-Report Estimates
New Trade Deals Proposed This week the U.S. Trade Representative (USTR) notified Congress of the administration’s intent to negotiate new trade agreements with Japan, the EU, and the UK. The notification is part of the statutory requirement under the Trade Promotion Authority (TPA) grante...
Market Commentary
Markets were lower overnight following yesterday’s declines, and they slipped a bit more after the weekly export sales report was released 15 minutes before that session closed. Corn and soybean exports sales were much lower than expected, but wheat sales were at the high end of the expec...
Summary of Futures
Dec 18 Corn closed at $3.7075/bushel, down $0.035 from yesterday's close. Dec 18 Wheat closed at $5.13/bushel, down $0.045 from yesterday's close. Nov 18 Soybeans closed at $8.635/bushel, down $0.2225 from yesterday's close. Dec 18 Soymeal closed at $316.3/short ton, down $7.4...
Summary of Futures
Dec Corn 2018 ($/bu) $3.7425 Dec Wheat 2018 ($/bu) $5.1750 Dec HRW Wheat 2018 $5.2100 Nov Soybeans 2018 ($/bu) $8.8575 Dec Soymeal 2018 ($/short ton) $323.70 Dec Soyoil 2018 (cents/lb) 29.56 Dec Live Cattle 2018 ($/cwt) $117.38 Jan Feeder Cattle 2019 ($/cwt) $149.08 Dec Lean Hogs 2018 ($/cwt) $...
Market Commentary
Price action in overnight trading and again during the day session can best be described as dull. Volume was low, and price movement was subdued. The corn market managed to trade a 3-cent range on both sides of Tuesday’s close before the December contract settled down a penny with most de...
Market Commentary
What Monday giveth, Tuesday taketh away – a colloquial way of saying that for grain and soy markets, today was Turnaround Tuesday. After Monday’s stout price rally, the turnaround began during the overnight session. Soybeans and corn traded quietly and mostly lower, while wheat trad...