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Cattle Rallying on Wednesday
Live cattle futures are trading with contracts $1.65 to $2.50 higher at midday. Cash trade has been quiet this week following the $232-235 last week. The Wednesday Fed Cattle Exchange online auction showed no sales on the 734 head offered, with bids at $230-230.50 live and $365 dressed. Feeder cattle...
Corn Losses Extend to Wednesday’s Midday
Corn futures are continuing to slide, with contracts down 5 to 6 cents so far on Wednesday’s midday. The CmdtyView national average Cash Corn price is down 5 cents at $4.07 1/2. USDA reported a private export sale of 120,000 MT of corn to Mexico this morning, with 30,000 MT...
Soybean Weakness Extends to Wednesday
Soybeans are trading with contracts down 3 to 5 ¼ cents at midday. The cmdtyView national average Cash Bean price is down 5 3/4 cents at $11.28 3/4. Soymeal futures are down $2.20 to $3.00, with Soy Oil 30 to 40 points lower. There were 137 deliveries issued against August...
Wheat Gains Holding at Wednesday’s Midday
The wheat complex is trading with gains across most contracts on Wednesday. Chicago SRW contracts are 8 cents higher so far on the midweek session. KC HRW futures are 12 cents higher in the front months so far on the day. MPLS spring wheat is back up 4 to 5...
Cotton Rally Holding at Midday
Cotton futures are back up 70 to 107 points in the front months at Wednesday’s midday. Crude oil is slipping 87 cents per barrel, with the US dollar index down $0.124. The NOAA 7-day QPF shows dryness continuing across much of TX in the next week, with very light totals...
Cattle Look to Wednesday Following Tuesday Gains
Live cattle futures posted gains of 85 cents to $1.72 across the board on Tuesday. Open interest suggested modest short covering, down just 943 contracts, mainly in the front two contracts. Cash trade was at $232-233 last week, with a few at $235. Trade has been quiet so far despite...