Yntegra Trading | 2013 | October

Date archive: October 2013

The cattle markets eased into the weekend, with live cattle settling with mixed results and feeder cattle finishing modestly lower. Live cattle had traded sharply higher earlier in the session, reaching its highest level since January, before fading late. A stronger-than-expected fed cattle market remains supportive to the markets. Last week, packers paid $131-133 in…

The wheat complex traded mostly lower overnight on great crop conditions and planting progress. This is a continuation of the weakness seen last week. Wheat conditions are not worsening this week either with rain expected for much of the U.S. wheat belt. Basis is firming in the interior U.S., and remains firm at the export…

U.S. weather was favorable for fast progress over the weekend with dry and cool conditions across nearly the entire growing region. S.A. weather is still dry and too cool in parts of Argentina, but has a good chance for moisture late this week. Brazil is in pretty good shape. U.S. basis values are seeing pushes…

The corn market continues its quiet, sideways trade having only a two and half cent trading range Friday. Last night was only two cents. Corn is testing the low end of the $4.48 to $4.38 trading range we have fallen into. Farmers are frantically trying to harvest corn this week before the rains hit today…

For the second week in a row, beef processors became active bidders in the cash cattle market on a Wednesday, this time pushing the market to $132-133 with a light scattering as high as $134 reported in the North. As noted here yesterday, this would be a new all-time high for the cash trade, topping…

The wheat markets worked their way higher overnight before falling in the early morning hours. Yesterday’s gains were centered on global supply disruptions, most particularly Argentina. Australia enters the picture today with significantly lower private production estimates. USDA October 3rd export data came in at 653K tonnes, which is in line with estimates. We will…

A bit of a pull back today across the complex is taking place. The export sales report was just OK for beans, but very disappointing for meal and disappointing for oil as well. Basis is feeling the pressure of month ending needs as Oct. shipments are rapidly approaching overdue. The harvest progress that should be…

The corn market was supported from the other commodities and fund buying. Funds bought 7,000 contracts making them short 47,000 contracts. The USDA is slowly getting caught up on their reports giving us an export sales report for October 3. Corn was reported at 1.34 MMT. The trade was looking for 650 to 850 TMT….

After raising cash cattle bids from $126 to $128-$129 late on Wed. afternoon and buying small volumes of cattle, packers bought additional animals early yesterday morning at mostly $129 in the South and $130 in the North, up $1-3 from the prior week’s trade. Trade volumes look solid and come with all major packers active…

Wheat is leading the market higher this morning. Traders have a feeling a lot of grain was exported while the USDA was shutdown. There is a strong likelihood Brazil will be after more wheat following Argentina’s production estimate of 8.8 MMT, which is a far cry from USDA’s current estimate of 12 MMT. If you…

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