Yntegra Trading | 2013 | July

Date archive: July 2013

Despite closing slightly firmer on Friday, live cattle futures still finished the week with minor losses, down 17 cents in the nearby August contract. That makes six weeks in a row now that Aug. futures have closed within a $121.60 to $122.02 range. But while the futures market continued to chop sideways, we saw some…

CBOT and Minneapolis wheat hit contract lows last week, with the KC contract just a few cents away from being in the same boat. This morning the market has seen light trade with the complex steady to lower. The weekend brought cool temperatures and additional moisture to the HRWW region, making a potentially excellent soil…

Weather is the key element today for the U.S. crop. A great extended forecast is keeping a lid on things as weather in China continues to stay hot and dry. This balancing act may tip to the favor of bulls should additional crop damage be done in China. Crop conditions after the close should be…

The corn market continues to trade lower with the  September leading the way down. Generally good weather and weaker cash values in the central and eastern Corn Belt were the catalysts. General rains have improved somewhat over the western Corn Belt with some of the dry areas getting one-quarter to one inch rains. Crop conditions…

Cattle futures traded to a mixed finish yet again yesterday with the nearby August contract still mired in its now month-long $121-123 trading range. Feeder cattle futures, meanwhile, continue to trend higher and move to fresh multi-month highs, spurred by growing confidence in much cheaper feed costs in coming months. High Plains cattle feeders have…

Wheat continued to shadow corn yesterday, though not to the degree of negativity we saw in the corn market. This morning feels the same with corn trading a penny better and wheat tracking, up three to four cents. Egypt’s GASC is shopping for first half September wheat, which will more than likely come from the…

The August bean contract took a serious hit yesterday and in the overnight trade. The significant drop in basis is also taking its toll on the old crop spreads. Look for volume in the Aug. and Sept. contracts to drop significantly today and through the rest of the week. Multiple chances for rain and cooler…

Corn futures rolled lower yesterday on increased spec fund selling, now net short over 18K contracts. Technicals broke down and spreads widened. December/March traded 12 1/2 yesterday, while Sept/Dec. traded as low as 32 this morning, dropping nearly a dime. There are significant basis pushes around the Midwest as the cash market reflects the old…

September corn closed higher Friday with cash continuing to be strong in most markets, while December closed unchanged on predictions for good chances of rain over the weekend and early this week for most of the Corn Belt, especially the western Corn Belt. The actual rains were a little disappointing for the western Corn Belt,…

It was a different week, but same story across the cattle complex last week with our cash cattle market again trading generally steady and futures chopping sideways. August live cattle futures have now incredibly closed each of the past four weeks in just a $0.17 range, from $121.85 to $122.02, inside of a bigger picture…

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