World Perspectives

Livestock Recent Livestock Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Post Turnaround; Hog Selloff Continues; Cattle Shrug Off COF Report

Trade at the CBOT was dynamic and interesting on Monday with early-day weakness sending wheat, corn, and soybeans all to fresh lows while late-day short-covering and buying pulled the latter two markets higher. Soybeans scored double-digit gains for the day while the corn market could only mana...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.335/bushel, down $0.015 from yesterday's close.  Sep 24 Wheat closed at $5.71/bushel, down $0.0475 from yesterday's close.  Jul 24 Soybeans closed at $11.7525/bushel, up $0.1475 from yesterday's close.  Jul 24 Soymeal closed at $372.8/short ton, up $11 fr...

livestock

Pork and Beef Diverge

U.S. beef production has been falling but pork output is rising. The higher price of beef has made the consumption of competing animal proteins like pork and poultry more attractive. Thus, pork prices initially got a boost out of the extra demand created by the shortfall in beef availability.&n...

livestock

Cattle on Feed

U.S. Cattle and calves in feedlots with capacity of 1,000 or more head totaled 11.6 million head on June 1, 2024 - less than 1 percent below 2023.   Placements in feedlots during May totaled 2.05 million head - 4 percent above 2023.  Marketings of fed cattle during May totaled 1...

feed-grains soy-oilseeds wheat

Market Commentary: Grain Rally Fades; Soybeans Try for Recovery; Bearish COF Numbers

The CBOT was mixed to close the week with traders seeming to take a break after this week’s generally bearish price action. There was notable short profit taking that helped the soy complex, while corn and wheat continued to drift lower amid weak technicals and bearish fundamental sentime...

livestock

Cattle on Feed Report: Placements Way Up in May

USDA released the monthly Cattle on Feed report today. Placements were the only category off from the consensus expectation. The range of estimates was a low of 95 percent to a high of 102.4 percent. Actual placements were 104 percent of May 2022.   For the year, January through May,...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.35/bushel, down $0.0475 from yesterday's close.  Jul 24 Wheat closed at $5.615/bushel, down $0.1125 from yesterday's close.  Jul 24 Soybeans closed at $11.605/bushel, up $0.0525 from yesterday's close.  Jul 24 Soymeal closed at $361.8/short ton, up $4.2 f...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for June 7-13, 2024. Wheat:  Net sales of 589,700 metric tons (MT) for 2024/2025 Export shipments of 363,600 MT were primarily to South Korea (91,400 MT), Thailand (56,200 MT), Panama (52,400 MT), the Philippines (48,300 MT), and Vietnam (26,400 MT).  Corn:&...

feed-grains soy-oilseeds wheat

Market Commentary: Still Looking for that Inevitable Bottom

Today, everything bled red except live cattle. Generally favorable U.S. weather overhangs the market until USDA’s Acreage Report is issued next week on 28 June.  Nothing is tanking as much as wheat, with Paris now entering oversold territory and July HRS hitting a new contract low...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed as of 1 June to be 99 percent of last year. May placements and marketing are expected to be 98 and 100 percent respectively of last year’s totals...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.3975/bushel, down $0.1025 from yesterday's close.  Jul 24 Wheat closed at $5.7275/bushel, down $0.0925 from yesterday's close.  Jul 24 Soybeans closed at $11.5525/bushel, down $0.1875 from yesterday's close.  Jul 24 Soymeal closed at $357.6/short ton, dow...

feed-grains soy-oilseeds wheat

Market Commentary: Soy Complex Rises on NOPA Crush; Harvest Progress Pressures Wheat; Cattle Conundrum

The CBOT was mixed on Tuesday with the Juneteenth holiday on Wednesday blunting trading volume and overall price action. Corn and soybeans settled higher amid modest declines in crop ratings and emerging technical support while the wheat market ignored hot, dry conditions in eastern Europe and...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.5/bushel, up $0.0625 from yesterday's close.  Jul 24 Wheat closed at $5.82/bushel, down $0.095 from yesterday's close.  Jul 24 Soybeans closed at $11.74/bushel, up $0.1625 from yesterday's close.  Jul 24 Soymeal closed at $364.6/short ton, up $4.3 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: No Threats so Hedging Bearish

Final planted numbers are unknown until late this month and the spread on that outcome is wide, but weather is only a theoretical threat to what could be a big U.S. crop. USDA’s weekly Crop Progress report was released after the market close, but the crop conditions were already viewed as...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.4375/bushel, down $0.0625 from yesterday's close.  Jul 24 Wheat closed at $5.915/bushel, down $0.2125 from yesterday's close.  Jul 24 Soybeans closed at $11.5775/bushel, down $0.22 from yesterday's close.  Jul 24 Soymeal closed at $360.3/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Ignoring Weather, Modest Volume Sees Mostly Red

Grains and soybeans followed the overnight close by trading lower at the open. The early stretch just saw fractional declines but later in the morning, corn and soybeans took deeper dives. Volumes were modest to lower, except in cattle futures. Despite expectations that the current hotter, drie...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.5/bushel, down $0.085 from yesterday's close.  Jul 24 Wheat closed at $6.1275/bushel, down $0.0725 from yesterday's close.  Jul 24 Soybeans closed at $11.7975/bushel, down $0.0975 from yesterday's close.  Jul 24 Soymeal closed at $368.4/short ton, up $0.1...

feed-grains soy-oilseeds wheat

Market Commentary: Some Higher Closes on Sideways Trade

Corn, the soybean complex and SRW all closed higher on the day with Kansas City and Minneapolis fractionally lower. For the trading week thus far, July corn is up 9.75 cents (2.1 percent), July soybeans are 10.25 cents higher (0.8 percent), and July SRW is down 7.5 cents (-1.1 percent). ...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.585/bushel, up $0.0425 from yesterday's close.  Jul 24 Wheat closed at $6.2/bushel, up $0.03 from yesterday's close.  Jul 24 Soybeans closed at $11.895/bushel, up $0.1225 from yesterday's close.  Jul 24 Soymeal closed at $368.3/short ton, up $8.1 from yes...

feed-grains soy-oilseeds wheat

Livestock Roundup: Production and Price Outlook

This week’s WASDE upped the projections for pork and broiler production and trimmed the beef forecast slightly at 5 million pounds.  The beef forecast is down on lower slaughter but is offset by heavier weights. For the past 10 weeks, slaughter weights have averaged 1,399 pounds, hi...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Falls on WASDE Numbers, Corn and Soy Steady; Hogs Post Turnaround

The CBOT was steady heading into Wednesday’s WASDE report from the USDA and largely remained so after the report’s release. Corn and soybeans saw few changes to the key balance sheets (the U.S., South America, and the world) and so traded mostly sideways with somewhat lackluster vol...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.5425/bushel, up $0.0475 from yesterday's close.  Jul 24 Wheat closed at $6.17/bushel, down $0.095 from yesterday's close.  Jul 24 Soybeans closed at $11.7725/bushel, down $0.0075 from yesterday's close.  Jul 24 Soymeal closed at $360.2/short ton, up $0.9...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Reverses Course, Corn and Soy Quiet Ahead of WASDE

The CBOT’s trade was primarily focused on last-minute preparation and positioning for the WASDE, which USDA will release at Noon ET on Wednesday. That meant corn and soybeans saw more selling pressure as expectations call for larger U.S. crops and ending stocks for the coming year. Wheat,...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.495/bushel, down $0.0225 from yesterday's close.  Jul 24 Wheat closed at $6.265/bushel, up $0.19 from yesterday's close.  Jul 24 Soybeans closed at $11.78/bushel, down $0.1025 from yesterday's close.  Jul 24 Soymeal closed at $359.3/short ton, down $8.7 f...

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Post Turnaround; Hog Selloff Continues; Cattle Shrug Off COF Report

Trade at the CBOT was dynamic and interesting on Monday with early-day weakness sending wheat, corn, and soybeans all to fresh lows while late-day short-covering and buying pulled the latter two markets higher. Soybeans scored double-digit gains for the day while the corn market could only mana...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.335/bushel, down $0.015 from yesterday's close.  Sep 24 Wheat closed at $5.71/bushel, down $0.0475 from yesterday's close.  Jul 24 Soybeans closed at $11.7525/bushel, up $0.1475 from yesterday's close.  Jul 24 Soymeal closed at $372.8/short ton, up $11 fr...

livestock

Pork and Beef Diverge

U.S. beef production has been falling but pork output is rising. The higher price of beef has made the consumption of competing animal proteins like pork and poultry more attractive. Thus, pork prices initially got a boost out of the extra demand created by the shortfall in beef availability.&n...

livestock

Cattle on Feed

U.S. Cattle and calves in feedlots with capacity of 1,000 or more head totaled 11.6 million head on June 1, 2024 - less than 1 percent below 2023.   Placements in feedlots during May totaled 2.05 million head - 4 percent above 2023.  Marketings of fed cattle during May totaled 1...

feed-grains soy-oilseeds wheat

Market Commentary: Grain Rally Fades; Soybeans Try for Recovery; Bearish COF Numbers

The CBOT was mixed to close the week with traders seeming to take a break after this week’s generally bearish price action. There was notable short profit taking that helped the soy complex, while corn and wheat continued to drift lower amid weak technicals and bearish fundamental sentime...

livestock

Cattle on Feed Report: Placements Way Up in May

USDA released the monthly Cattle on Feed report today. Placements were the only category off from the consensus expectation. The range of estimates was a low of 95 percent to a high of 102.4 percent. Actual placements were 104 percent of May 2022.   For the year, January through May,...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.35/bushel, down $0.0475 from yesterday's close.  Jul 24 Wheat closed at $5.615/bushel, down $0.1125 from yesterday's close.  Jul 24 Soybeans closed at $11.605/bushel, up $0.0525 from yesterday's close.  Jul 24 Soymeal closed at $361.8/short ton, up $4.2 f...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for June 7-13, 2024. Wheat:  Net sales of 589,700 metric tons (MT) for 2024/2025 Export shipments of 363,600 MT were primarily to South Korea (91,400 MT), Thailand (56,200 MT), Panama (52,400 MT), the Philippines (48,300 MT), and Vietnam (26,400 MT).  Corn:&...

feed-grains soy-oilseeds wheat

Market Commentary: Still Looking for that Inevitable Bottom

Today, everything bled red except live cattle. Generally favorable U.S. weather overhangs the market until USDA’s Acreage Report is issued next week on 28 June.  Nothing is tanking as much as wheat, with Paris now entering oversold territory and July HRS hitting a new contract low...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed as of 1 June to be 99 percent of last year. May placements and marketing are expected to be 98 and 100 percent respectively of last year’s totals...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.3975/bushel, down $0.1025 from yesterday's close.  Jul 24 Wheat closed at $5.7275/bushel, down $0.0925 from yesterday's close.  Jul 24 Soybeans closed at $11.5525/bushel, down $0.1875 from yesterday's close.  Jul 24 Soymeal closed at $357.6/short ton, dow...

feed-grains soy-oilseeds wheat

Market Commentary: Soy Complex Rises on NOPA Crush; Harvest Progress Pressures Wheat; Cattle Conundrum

The CBOT was mixed on Tuesday with the Juneteenth holiday on Wednesday blunting trading volume and overall price action. Corn and soybeans settled higher amid modest declines in crop ratings and emerging technical support while the wheat market ignored hot, dry conditions in eastern Europe and...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.5/bushel, up $0.0625 from yesterday's close.  Jul 24 Wheat closed at $5.82/bushel, down $0.095 from yesterday's close.  Jul 24 Soybeans closed at $11.74/bushel, up $0.1625 from yesterday's close.  Jul 24 Soymeal closed at $364.6/short ton, up $4.3 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: No Threats so Hedging Bearish

Final planted numbers are unknown until late this month and the spread on that outcome is wide, but weather is only a theoretical threat to what could be a big U.S. crop. USDA’s weekly Crop Progress report was released after the market close, but the crop conditions were already viewed as...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.4375/bushel, down $0.0625 from yesterday's close.  Jul 24 Wheat closed at $5.915/bushel, down $0.2125 from yesterday's close.  Jul 24 Soybeans closed at $11.5775/bushel, down $0.22 from yesterday's close.  Jul 24 Soymeal closed at $360.3/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Ignoring Weather, Modest Volume Sees Mostly Red

Grains and soybeans followed the overnight close by trading lower at the open. The early stretch just saw fractional declines but later in the morning, corn and soybeans took deeper dives. Volumes were modest to lower, except in cattle futures. Despite expectations that the current hotter, drie...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.5/bushel, down $0.085 from yesterday's close.  Jul 24 Wheat closed at $6.1275/bushel, down $0.0725 from yesterday's close.  Jul 24 Soybeans closed at $11.7975/bushel, down $0.0975 from yesterday's close.  Jul 24 Soymeal closed at $368.4/short ton, up $0.1...

feed-grains soy-oilseeds wheat

Market Commentary: Some Higher Closes on Sideways Trade

Corn, the soybean complex and SRW all closed higher on the day with Kansas City and Minneapolis fractionally lower. For the trading week thus far, July corn is up 9.75 cents (2.1 percent), July soybeans are 10.25 cents higher (0.8 percent), and July SRW is down 7.5 cents (-1.1 percent). ...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.585/bushel, up $0.0425 from yesterday's close.  Jul 24 Wheat closed at $6.2/bushel, up $0.03 from yesterday's close.  Jul 24 Soybeans closed at $11.895/bushel, up $0.1225 from yesterday's close.  Jul 24 Soymeal closed at $368.3/short ton, up $8.1 from yes...

feed-grains soy-oilseeds wheat

Livestock Roundup: Production and Price Outlook

This week’s WASDE upped the projections for pork and broiler production and trimmed the beef forecast slightly at 5 million pounds.  The beef forecast is down on lower slaughter but is offset by heavier weights. For the past 10 weeks, slaughter weights have averaged 1,399 pounds, hi...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Falls on WASDE Numbers, Corn and Soy Steady; Hogs Post Turnaround

The CBOT was steady heading into Wednesday’s WASDE report from the USDA and largely remained so after the report’s release. Corn and soybeans saw few changes to the key balance sheets (the U.S., South America, and the world) and so traded mostly sideways with somewhat lackluster vol...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.5425/bushel, up $0.0475 from yesterday's close.  Jul 24 Wheat closed at $6.17/bushel, down $0.095 from yesterday's close.  Jul 24 Soybeans closed at $11.7725/bushel, down $0.0075 from yesterday's close.  Jul 24 Soymeal closed at $360.2/short ton, up $0.9...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Reverses Course, Corn and Soy Quiet Ahead of WASDE

The CBOT’s trade was primarily focused on last-minute preparation and positioning for the WASDE, which USDA will release at Noon ET on Wednesday. That meant corn and soybeans saw more selling pressure as expectations call for larger U.S. crops and ending stocks for the coming year. Wheat,...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 24 Corn closed at $4.495/bushel, down $0.0225 from yesterday's close.  Jul 24 Wheat closed at $6.265/bushel, up $0.19 from yesterday's close.  Jul 24 Soybeans closed at $11.78/bushel, down $0.1025 from yesterday's close.  Jul 24 Soymeal closed at $359.3/short ton, down $8.7 f...

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