Recent Livestock Analysis
Summary of Futures
Dec 19 Corn closed at $3.8075/bushel, up $0.0975 from yesterday's close. Sep 19 Wheat closed at $4.7075/bushel, up $0.0175 from yesterday's close. Nov 19 Soybeans closed at $8.7975/bushel, up $0.09 from yesterday's close. Dec 19 Soymeal closed at $300.3/short ton, up $3.4 from...
Market Commentary
Expectations of crop tours finding yields below USDA’s latest estimate gave the CBOT a boost to end what has otherwise been a bearish week. Private yield estimates prompted a round of short covering in the corn and soybean markets, while wheat was left largely directionless. Cattle prices...
Market Commentary
The corn bulls have been hoping that the Pro Farmer crop tour will reveal USDA to be a liar. The crop voyeurs are seeing some yields below the its estimates but also some that are higher. Either way, their observations will not change USDA’s numbers. In fact, those could stay roughly the...
Summary of Futures
Dec 19 Corn closed at $3.71/bushel, up $0.0075 from yesterday's close. Sep 19 Wheat closed at $4.69/bushel, down $0.0475 from yesterday's close. Nov 19 Soybeans closed at $8.7075/bushel, down $0.0725 from yesterday's close. Dec 19 Soymeal closed at $296.9/short ton, down $3 fr...
Livestock Roundup: Tyson Fire and Cattle Markets; Canadian Feeder Pigs
Tyson Fire and Cattle Markets As Matt Herrington reported on Monday, cattle futures were down the limit after Tyson’s packing plant in Garden City, Kansas suffered a major fire last weekend. It will be closed indefinitely, and following is a closer look at the impact. The plant has a capa...
Export Sales
Wheat: Net sales of 462,200 metric tons for 2019/2020 were down 5 percent from the previous week and 2 percent from the prior 4-week average. Corn: Net sales of 56,100 MT for 2018/2019 were up 32 percent from the previous week, but down 56 percent from the prior 4-week average. ...
Market Commentary
Markets continue to reel from the August WASDE with the trade trying to decide if USDA’s latest figures are wrong, right, or somewhere in between. One could make the case either way with its estimates being the best available at a given time but also subject to the fact that the world (an...
Summary of Futures
Dec 19 Corn closed at $3.7025/bushel, down $0.0625 from yesterday's close. Sep 19 Wheat closed at $4.7375/bushel, up $0.0175 from yesterday's close. Nov 19 Soybeans closed at $8.78/bushel, down $0.11 from yesterday's close. Dec 19 Soymeal closed at $299.9/short ton, down $4.7...
China In-Country Analysis
Marco Trends China Food Inflation Hits Highest Level in 7.5 Years While Beijing has been occupied with the events in Hong Kong, food prices soared an astounding 9.1 percent last month versus July 2018. Monthly food costs have not risen at this pace since January 2012, when China’s economy...
Market Commentary
Corn and wheat found continued pressure from overnight analysis of the August WASDE, while the soy complex managed to find significant support for the day. The market is still debating the accuracy of USDA’s corn estimates, but fund position liquidation is forcing it to adopt those figure...
Summary of Futures
Dec 19 Corn closed at $3.765/bushel, down $0.1625 from yesterday's close. Sep 19 Wheat closed at $4.72/bushel, up $0.0025 from yesterday's close. Nov 19 Soybeans closed at $8.89/bushel, up $0.0975 from yesterday's close. Dec 19 Soymeal closed at $304.6/short ton, up $5.9 from...
Market Commentary
It was all about the WASDE today with futures mostly consolidating overnight before trading lower heading into the report. The most notable feature in the August WASDE was the bearish surprise to the corn market with 2019 corn planted acres and yields estimated at 90.0 million and 169.5 bushels...
Summary of Futures
Dec 19 Corn closed at $3.8075/bushel, up $0.0975 from yesterday's close. Sep 19 Wheat closed at $4.7075/bushel, up $0.0175 from yesterday's close. Nov 19 Soybeans closed at $8.7975/bushel, up $0.09 from yesterday's close. Dec 19 Soymeal closed at $300.3/short ton, up $3.4 from...
Market Commentary
Expectations of crop tours finding yields below USDA’s latest estimate gave the CBOT a boost to end what has otherwise been a bearish week. Private yield estimates prompted a round of short covering in the corn and soybean markets, while wheat was left largely directionless. Cattle prices...
Market Commentary
The corn bulls have been hoping that the Pro Farmer crop tour will reveal USDA to be a liar. The crop voyeurs are seeing some yields below the its estimates but also some that are higher. Either way, their observations will not change USDA’s numbers. In fact, those could stay roughly the...
Summary of Futures
Dec 19 Corn closed at $3.71/bushel, up $0.0075 from yesterday's close. Sep 19 Wheat closed at $4.69/bushel, down $0.0475 from yesterday's close. Nov 19 Soybeans closed at $8.7075/bushel, down $0.0725 from yesterday's close. Dec 19 Soymeal closed at $296.9/short ton, down $3 fr...
Livestock Roundup: Tyson Fire and Cattle Markets; Canadian Feeder Pigs
Tyson Fire and Cattle Markets As Matt Herrington reported on Monday, cattle futures were down the limit after Tyson’s packing plant in Garden City, Kansas suffered a major fire last weekend. It will be closed indefinitely, and following is a closer look at the impact. The plant has a capa...
Export Sales
Wheat: Net sales of 462,200 metric tons for 2019/2020 were down 5 percent from the previous week and 2 percent from the prior 4-week average. Corn: Net sales of 56,100 MT for 2018/2019 were up 32 percent from the previous week, but down 56 percent from the prior 4-week average. ...
Market Commentary
Markets continue to reel from the August WASDE with the trade trying to decide if USDA’s latest figures are wrong, right, or somewhere in between. One could make the case either way with its estimates being the best available at a given time but also subject to the fact that the world (an...
Summary of Futures
Dec 19 Corn closed at $3.7025/bushel, down $0.0625 from yesterday's close. Sep 19 Wheat closed at $4.7375/bushel, up $0.0175 from yesterday's close. Nov 19 Soybeans closed at $8.78/bushel, down $0.11 from yesterday's close. Dec 19 Soymeal closed at $299.9/short ton, down $4.7...
China In-Country Analysis
Marco Trends China Food Inflation Hits Highest Level in 7.5 Years While Beijing has been occupied with the events in Hong Kong, food prices soared an astounding 9.1 percent last month versus July 2018. Monthly food costs have not risen at this pace since January 2012, when China’s economy...
Market Commentary
Corn and wheat found continued pressure from overnight analysis of the August WASDE, while the soy complex managed to find significant support for the day. The market is still debating the accuracy of USDA’s corn estimates, but fund position liquidation is forcing it to adopt those figure...
Summary of Futures
Dec 19 Corn closed at $3.765/bushel, down $0.1625 from yesterday's close. Sep 19 Wheat closed at $4.72/bushel, up $0.0025 from yesterday's close. Nov 19 Soybeans closed at $8.89/bushel, up $0.0975 from yesterday's close. Dec 19 Soymeal closed at $304.6/short ton, up $5.9 from...
Market Commentary
It was all about the WASDE today with futures mostly consolidating overnight before trading lower heading into the report. The most notable feature in the August WASDE was the bearish surprise to the corn market with 2019 corn planted acres and yields estimated at 90.0 million and 169.5 bushels...