Recent Livestock Analysis
Market Commentary: Wheat Falls Amid Weak Russian Prices; Soyoil Rises on Exports; Macro Markets Boost Cattle
Markets and traders were broadly enthusiastic following the U.S. Federal Reserve’s 50-bps cut to its target interest rate on Wednesday, but you wouldn’t know that from looking at the grain or oilseed markets. Wheat futures were sharply lower on Thursday amid pressure from French whe...
Summary of Futures
Dec 24 Corn closed at $4.0575/bushel, down $0.07 from yesterday's close. Dec 24 Wheat closed at $5.655/bushel, down $0.1025 from yesterday's close. Nov 24 Soybeans closed at $10.1325/bushel, down $0.0075 from yesterday's close. Dec 24 Soymeal closed at $321.6/short ton, up $0...
Livestock Roundup: Cattle on Feed Preview
USDA will release its Cattle on Feed report tomorrow; the pre-report consensus analysts’ estimate is for the inventory of cattle on feed as of 1 September to be 101 percent of last year. August placements and marketing are expected to be 98.5 and 96.5 percent respectively of last year&rsq...
Market Commentary: Soy Complex Rises on China Rumors, Brazil Drought; Hogs Extend Rally
Soybeans saw the liveliest action of the major grain/oilseed contracts on Wednesday with a strong, 18-cent overnight rally developing on rumors of Chinese export business. That rally fizzled, however, after the USDA did not report any daily “flash” export sales at 9 AM ET and the ma...
Summary of Futures
Dec 24 Corn closed at $4.1275/bushel, up $0.0025 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, up $0 from yesterday's close. Nov 24 Soybeans closed at $10.14/bushel, up $0.08 from yesterday's close. Dec 24 Soymeal closed at $321.4/short ton, down $0.1 from yes...
Market Commentary: Grains Drift Sideways as Harvest Looms; Livestock Rally on Strong Cash Trade
The CBOT was mostly sideways on Tuesday with funds still paring back a few shorts in the corn and soy complex while resuming some light selling in wheat futures. There was little fresh news for the day, which contributed significantly to the lack of price action. Russian FOB offers continue to...
Summary of Futures
Dec 24 Corn closed at $4.125/bushel, up $0.0175 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, down $0.0275 from yesterday's close. Nov 24 Soybeans closed at $10.06/bushel, up $0.015 from yesterday's close. Dec 24 Soymeal closed at $321.5/short ton, down $2.3 f...
Market Commentary: Bears Win as CBOT Emerges from Post-WASDE Weekend
The CBOT emerged from the post-WASDE weekend with bears gaining the upper hand in a relatively light news day. Wheat was the big loser for the day as profit taking developed when futures neared the $6.00 mark that kicked values sharply lower. Corn and soybeans were in the red for the day as wel...
Summary of Futures
Dec 24 Corn closed at $4.1075/bushel, down $0.025 from yesterday's close. Dec 24 Wheat closed at $5.785/bushel, down $0.1625 from yesterday's close. Nov 24 Soybeans closed at $10.045/bushel, down $0.0175 from yesterday's close. Dec 24 Soymeal closed at $323.8/short ton, up $0...
CFTC COT Report Analysis
Funds continued covering shorts across the grain and oilseed complex through last Tuesday as futures trended firmer heading into the September WASDE. The most notable short covering was in wheat where funds bought back 30 percent of the CBOT position and 33 percent of their HRW short. The buyin...
Market Commentary: It Was Wheat’s Week
Russia’s Vladimir Putin warned that Ukraine using Western long-range missiles to attack inside his country would bring NATO into the war. That and his threats to use nuclear weapons and the attack this week on a grain carrying ship in the Black Sea pressured the gold market and likely whe...
Summary of Futures
Dec 24 Corn closed at $4.1325/bushel, up $0.0725 from yesterday's close. Dec 24 Wheat closed at $5.9475/bushel, up $0.1625 from yesterday's close. Nov 24 Soybeans closed at $10.0625/bushel, down $0.045 from yesterday's close. Dec 24 Soymeal closed at $322.9/short ton, down $0...
Market Commentary: Wheat Falls Amid Weak Russian Prices; Soyoil Rises on Exports; Macro Markets Boost Cattle
Markets and traders were broadly enthusiastic following the U.S. Federal Reserve’s 50-bps cut to its target interest rate on Wednesday, but you wouldn’t know that from looking at the grain or oilseed markets. Wheat futures were sharply lower on Thursday amid pressure from French whe...
Summary of Futures
Dec 24 Corn closed at $4.0575/bushel, down $0.07 from yesterday's close. Dec 24 Wheat closed at $5.655/bushel, down $0.1025 from yesterday's close. Nov 24 Soybeans closed at $10.1325/bushel, down $0.0075 from yesterday's close. Dec 24 Soymeal closed at $321.6/short ton, up $0...
Livestock Roundup: Cattle on Feed Preview
USDA will release its Cattle on Feed report tomorrow; the pre-report consensus analysts’ estimate is for the inventory of cattle on feed as of 1 September to be 101 percent of last year. August placements and marketing are expected to be 98.5 and 96.5 percent respectively of last year&rsq...
Market Commentary: Soy Complex Rises on China Rumors, Brazil Drought; Hogs Extend Rally
Soybeans saw the liveliest action of the major grain/oilseed contracts on Wednesday with a strong, 18-cent overnight rally developing on rumors of Chinese export business. That rally fizzled, however, after the USDA did not report any daily “flash” export sales at 9 AM ET and the ma...
Summary of Futures
Dec 24 Corn closed at $4.1275/bushel, up $0.0025 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, up $0 from yesterday's close. Nov 24 Soybeans closed at $10.14/bushel, up $0.08 from yesterday's close. Dec 24 Soymeal closed at $321.4/short ton, down $0.1 from yes...
Market Commentary: Grains Drift Sideways as Harvest Looms; Livestock Rally on Strong Cash Trade
The CBOT was mostly sideways on Tuesday with funds still paring back a few shorts in the corn and soy complex while resuming some light selling in wheat futures. There was little fresh news for the day, which contributed significantly to the lack of price action. Russian FOB offers continue to...
Summary of Futures
Dec 24 Corn closed at $4.125/bushel, up $0.0175 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, down $0.0275 from yesterday's close. Nov 24 Soybeans closed at $10.06/bushel, up $0.015 from yesterday's close. Dec 24 Soymeal closed at $321.5/short ton, down $2.3 f...
Market Commentary: Bears Win as CBOT Emerges from Post-WASDE Weekend
The CBOT emerged from the post-WASDE weekend with bears gaining the upper hand in a relatively light news day. Wheat was the big loser for the day as profit taking developed when futures neared the $6.00 mark that kicked values sharply lower. Corn and soybeans were in the red for the day as wel...
Summary of Futures
Dec 24 Corn closed at $4.1075/bushel, down $0.025 from yesterday's close. Dec 24 Wheat closed at $5.785/bushel, down $0.1625 from yesterday's close. Nov 24 Soybeans closed at $10.045/bushel, down $0.0175 from yesterday's close. Dec 24 Soymeal closed at $323.8/short ton, up $0...
CFTC COT Report Analysis
Funds continued covering shorts across the grain and oilseed complex through last Tuesday as futures trended firmer heading into the September WASDE. The most notable short covering was in wheat where funds bought back 30 percent of the CBOT position and 33 percent of their HRW short. The buyin...
Market Commentary: It Was Wheat’s Week
Russia’s Vladimir Putin warned that Ukraine using Western long-range missiles to attack inside his country would bring NATO into the war. That and his threats to use nuclear weapons and the attack this week on a grain carrying ship in the Black Sea pressured the gold market and likely whe...
Summary of Futures
Dec 24 Corn closed at $4.1325/bushel, up $0.0725 from yesterday's close. Dec 24 Wheat closed at $5.9475/bushel, up $0.1625 from yesterday's close. Nov 24 Soybeans closed at $10.0625/bushel, down $0.045 from yesterday's close. Dec 24 Soymeal closed at $322.9/short ton, down $0...