Date archive: September 2013

The live cattle market spent much of yesterday morning in negative territory, before a midday rally helped it finish with modest gains. Feeder cattle futures provided some support, as they recovered after their one-day decline on Wednesday, settling with triple-digit gains and continuing their meteoric rise into new all-time highs. It comes as no surprise…

Wheat found strength in a demand-driven market yesterday, with solid export sales to affirm global demand. This morning the wheat has steadied at its highest price since the middle of July in the Dec. contract. Ukraine is worried about planting conditions as producers have been unable to get into the fields due to rain, and…

It almost feels like a Friday before a three-day weekend with the report not being issued until midday on Monday. USDA Sept. 1 stocks report will come out at 11am CDT on the 30th. We should continue to see evening ahead of the report. I suspect the idea of a tighter old crop carryout from…

Corn followed wheat higher yesterday, closing two higher for the day after a two-sided trade. Funds bought 3K contracts. We are hearing reports of several Asian countries buying corn. Several of the reported sales have been of optional origin. China left their import quota the same for 2014 at 7.2 MMT. This may be why…

It was another higher finish in the cattle complex yesterday, with the fats up $0.50 to $0.70/cwt and the feeders up $1.00+ (except for the nearby Sept. contract). We have yet to see any significant cash cattle trade. Although the producers do not seem overly optimistic, at least not as much as one would expect…

Strong export sales and fund short-covering helped wheat to a near 10-cent rally in KC. This morning it should come as no surprise that wheat cannot sustain a rally, trading a few cents better. The rumors yesterday of Polish wheat to Brazil, were just that, rumors. The two countries lack an agreement on quality. India…

Lower night trade leaves us looking at a down day headed into a harvest weekend that will be interrupted by rains. Some areas will proceed nearly unaltered, but others will be shut down for the weekend. Rains will slow any new crop progress in most of Kansas and Missouri. Rains the next two days also…

Corn followed the wheat market higher yesterday. Continued South American winter wheat problems and seasonal wheat/corn spreading supported the wheat market yesterday. Funds bought 5K contracts. Overnight we settled down and back to the lower side. Resistance in Dec. is $4.63 and then $4.68. Support is $4.53 and then $4.46. The market continues to congest…

The cattle markets traded both sides of unchanged yesterday before settling mostly firmer, particularly in the feeders which found support in bearish USDA corn data. We did also see some $123 cash cattle trade take place in the South yesterday afternoon, resulting in hedge-lifting that supported values late, and again overnight. This is now the…

Wheat rallied into the close yesterday, picking up losses from earlier in the week, with bullish bean numbers coming from the Sept. USDA crop report. This morning the market is lower as a correction to remain range-bound. Europe is gearing up for a large week in exports with the largest demand for export licenses of…

MENU