Yntegra Trading | 2014 | March

Date archive: March 2014

Despite small daily losses on Friday, the cattle markets finished the week with approximately $2 gains in the live cattle pit and a $3 rally in the feeders. Weekly slaughter totaled 585K head, slightly larger than expected, a full 10K head larger than the prior week, and our largest total since mid-January. The spot boxed…

The wheat market is trading lower this morning ahead of USDA’s Quarterly Grain Stocks report due out at 11 this morning. Average trade estimates have stocks at 1.042B bu and all wheat planted acreage at 56.227 mln acres versus 1.235B bu and 55.5 mln acres in 2013. The entire wheat complex seems to rolling over…

Guess what day it is: report day! So in a little over 3 hours USDA will bestow upon us information of great import. Bean stocks are expected to be below 1 BB at 989 MB and acreage averaged just over 81 MA. It seems the acreage may be a lower end number by the time…

Corn quieted down Friday with only a 7-cent trading range and it settled unchanged. Funds were on the sidelines, but after the Commitment of Traders report they are now long 255,000 contracts. Now we wait for the 11:00 reports. The average trade guess on corn stocks is 7.099. The average trade guess on corn acres…

Cattle futures traded lower for most of the session yesterday in sympathy with sharply lower hogs, only to rally back late in the day as our weekly cash cattle trade became active. Packers were buying small volumes at $150 in KS/TX before paying mostly $152 there by mid-afternoon. Packers also became active late in the…

Wheat traded 2 1/4 higher to 4 3/4 lower overnight, Paris wheat is $0.05/bu. lower, USD and crude are higher at this time. Market is easing back this morning after trading higher on the open last night. Wheat is a crowded long now. There are better chances of moisture in some of the maps for…

Lower overnight across the complex as the report approaches and ideas of “finding” a record amount of beans is circulating. I do not doubt there will be some beans found in residual, but expecting a record amount is a stretch. Meanwhile, exports continue to get loaded out and no announcements of cancellations continue to point…

Corn took a breather yesterday settling down 3 1/2 cents after a choppy two-sided trade. Funds sold 4,000 contracts. Informa came out mid-morning with 93 MA estimated on Mar 31 planting intentions report. This is down slightly from last time and down from last year’s 95.365. The average trade guess is around 92.748. The average…

After trading to a mixed result on Friday, most live cattle and feeder cattle contracts will finish the week with $1-2 losses. This futures weakness comes despite a cash market that traded generally $2 higher than the prior week, $150 in the South and $152 in the North, and a steady week-to-week boxed beef market….

The wheat market is higher this morning after a volatile overnight session as the 6-10 day forecast has taken out some of the moisture expected for the HRW areas. The WK contract moved 13 cents in 20 seconds early this morning. Weekly wheat inspections estimates range from 400-600k tonnes, last week’s inspections totaled 496.4k tonnes….

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