Date archive: December 2013

The cattle complex traded weaker from the start yesterday and ultimately finished with modest losses in the fats and more serious $1.00+ losses in the feeders. Despite the firmer values on Tuesday, the choice boxed beef market traded back to the downside yesterday and to a fresh two-month low. Holiday retail buying is effectively over…

The wheat market is lower this morning ahead of the release of Informa’s 2014 estimates for total wheat acreage. November’s estimate pegged total wheat acreageat 58.1 million acres and trade is concerned total wheat acres will increase again. Egypt’s GASC bought 60K tonnes of Russian wheat for $318.95/ton and 60K tonnes of Romanian wheat for…

Not much news to trade off of in the complex this morning. Bears are watching China demand with the GMO issues in beans, as well as monitoring a small contingent of fanatics who regard GMO as a subversive plot. It is a good thing a lot of the beans are shipping out of the gulf,…

In spite of starting out lower, corn closed three and one-quarter higher yesterday with funds buying 5K contracts on the day. Commission houses were the best buyers as they try to even up ahead of the end of the year. The trade is nervously watching the developments in China over GMO issues. There may be…

While live cattle futures have remained mostly sideways for the past several weeks, our cash cattle and boxed beef markets wound up moving lower last week. Our weekly cash cattle trade developed midday Friday at mostly $131 live in the South and $206 dressed in the North, down $1 and $2 from the prior week’s…

The wheat market is weaker on continued reports of an increasingly larger 2013/14 global wheat crop. Both Russia and the EU raised estimates for ‘13/’14 wheat production over the weekend with Russia’s crop coming in over 50 MMT and the EU’s at 135.9 MMT. Iraq is expected to issue a tender for wheat this week….

One meal contract was delivered after the end of trading on Friday and 117 of oil. River points are shipping as fast as they take in beans, according to the daily stocks report from CME Group. We will have export inspections at 10 am and NOPA crush an hour after that. CFTC showed a net…

Corn closed sharply lower on Friday, 8 3/4 lower for the day, and coincidently, 8 3/4 lower for the week. Funds sold 8K contracts Friday. The market is nervous over Chinese rejections and concerns over more. There have been several of these cargoes floating around Asia distressing the cash markets. They are also inspecting DDGs….

The cattle markets quietly traded to a mixed finish yesterday in both the feeders and the fats. The USDA’s monthly supply/demand data was the only fresh news to be found and once again re-affirmed ideas of much tighter cattle/beef supplies in coming months. We are as guilty as anyone in getting caught up in the…

The wheat market is weaker following yesterday’s bearish USDA report. U.S. carryout projections increased 10 million bushels to 575 million bushels, world carry projections also increased to 182.8 million tonnes from 178.48 million tonnes. Interesting to note the USDA kept Argentina’s production number unchanged. Many traders believe the Argentinean government will limit exports to pressure…

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