Yntegra Trading | 2014 | April

Date archive: April 2014

Cattle futures traded both sides of unchanged yesterday before closing narrowly mixed. Many feeder cattle months traded to new contract highs and again out-paced the fats to the upside, even with the corn market adding another 5-8 cents/bu yesterday. This in turn has pressed forward cattle crush margins into 10+ year lows as the industry…

Day two of the 2014 Winter Wheat Tour continues today following yesterday’s disappointing findings. Needless to say many areas have been affected by the drought and freeze damage. The Wheat Quality Council released Kansas production estimates at 34.7 bushel per acre. However, Colorado and Nebraska are currently reporting less crop damage than Kansas. Traders remain…

The market is seeing some resistance to the unfettered upside on this rally. The next level of resistance is $15.21 and then $15.40 so we are not that far from some more stops and additional momentum. Continued lack of planting is going to be an issue for corn and a negative for NC bean prices….

Cold, rainy weather supported the corn market yesterday allowing it to close 8 higher in old crop and 5 higher in the new crop. The Spec Funds bought 10,000 contracts making them long 275,000. Most of the news is about weather. After 3 or 4 days of rain scattered all over the Corn Belt, we…

The cattle markets finished with $0.50-1.00 gains on Friday, up $2.00-4.00 for the week, and are expected to start in that direction again this morning. Friday afternoon’s USDA COF report showed the April 1 on feed total at 99.4% of a year ago, down 1.0% vs. the pre-report estimate, but the real kicker was March…

Wheat traded higher as technicals remain supportive and rainfall for the HRW areas ended up being lighter than forecasted. Also, the IGC eased its forecast for the world wheat crop to 697 mmt, down 3 mmt from last month. Weekly wheat inspection estimates range from 400-600k tonnes with last week’s inspections totaling 495k tonnes. The…

It looks like a positive start to the week across the complex. Weather in the U.S. is stirring the pot for other grains more so than for beans in a positive way, but the technical side is definitely positive with this move. Resistance is up another 15-20 cents from the current level at $15.17-20. Currently,…

The market rallied on fears of cold, wet weather across a large portion of the Corn Belt this weekend and into early next week. Friday, CN settled up 5 1/2 and CZ up 3 1/2. CN was up 14 cents for the week. Funds bought 7,000 contracts on Friday and 21,000 for the week. After…

Cattle futures trading firmer for the fourth consecutive session yesterday, posting a 20-75 point rally in the fats and 100+ in the feeders. Feeder cattle again trading to new contract highs with recent rains improving pasture conditions east of I-35. Some traders also noting a suspected BSE case in Brazil as support for futures?? If…

We should see continued strength in the wheat market today based on weather and increasing tensions in the Ukraine. Wheat will also see spillover support from the corn market, as the weather forecast doesn’t appear to be very conducive for planting. Also wet weather is causing delays in early planting of spring wheat. KC new…

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