Date archive: November 2013

The cattle complex was able to put together a rather impressive session on Wednesday, trading roughly $1+ higher in both the live cattle and feeder cattle markets. This came as our weekly cash cattle trade became active by midday at $132 live in the South, up $1-2 from the prior week, and mostly $208-210 dressed…

The wheat trade finished strongly on Wednesday’s session. Export sales came in at 562K tonnes, which was within market expectations. Russian wheat prices continue rising on concerns over bad weather affecting crop conditions. The Anderson’s group registered deliveries for 1,001 contracts of Chicago wheat. Expect the wheat complex to be stronger on breakout momentum, and…

The good news, so far no shopping related deaths or major injuries reported on Black Friday. No overnight trade so we are going to have to call it like the old days. Weather is still conducive to good crops in S.A. Demand from China does not seem to be relenting even with the cancellation earlier…

With no trade last night, this really is an opening call. Look for a slightly higher call based on the outside markets (have not said that in a while). Funds bought 3K contracts Wednesday. Looking for a quiet market today as many elevators are closed and many producers are out hunting or otherwise still celebrating…

The cattle complex traded both sides of unchanged before finishing mixed yesterday, a lackluster trading session following a lackluster Cattle on Feed report last Friday which failed to inspire either the bulls or the bears. It is clear that fed cattle supplies will remain relatively tight for months into the future, which is not shocking…

The wheat markets gave up gains overnight; Chicago wheat led the charge lower. Winter wheat ratings lost 1 point in yesterday’s USDA crop progress. The U.S. crop remains well ahead of last year’s numbers and is positioned nicely going into the winter months. Jordan tendered for 100K tonnes of option-origin wheat for May-June shipment that…

The complex is awaiting another close above levels that will indicate a true bullish market. For beans, it is above $13.21 1/2 – 13.25, meal $423, and oil needs to rally through $42.40. Oil is the lone component that is not trending higher technically or otherwise. Basis is firming on the front end and steady…

The corn market opened steady and then broke lower overnight on a moderate volume trade. It was higher yesterday with funds buying 6K. Corn was a follower with wheat and beans closing higher also. Corn harvest was reported at 95% complete, up 4% for the week. South American weather seems to be improving as planting…

After two consecutive days of sharp losses, the cattle complex found some mild support yesterday, trading 10-50 points higher in the fats and 20-90 points higher in the feeders. Boxed beef markets traded mixed yesterday, slightly firmer in the choice, weaker in the select, which at least is not outright lower, but still not encouraging…

Wheat markets are stronger across the board this morning. The big news yesterday was Rosario Exchange’s projection for Argentinean wheat production at 9.1 MMT, well below the USDA’s 11 MMT estimate. This morning’s export sales figure was pegged at 801K tonnes for last week. Wheat by class break down had Hard Red Winter at 301K,…

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