Date archive: August 2014

Live cattle and feeder cattle futures both traded quietly firmer for most of the session yesterday, finishing with slight gains throughout. August futures expire this Friday and at $153.55 now find themselves basically on par with the average of last week’s cash cattle business… after trading at a $5-8 discount to cash for much of…

The wheat market overcame early weakness to finish near unchanged yesterday and saw light buying in the overnight session. More precipitation is expected to hit Germany as the producers cannot get the last 30% of the crop out of the fields. Southern Argentina is expected to get some rain which can help relieve crop stress…

Southern yields continue the drum beat of a huge crop with exceptional to record numbers. The monster needs to be fed and 50, 70, and higher yields are the right ticket. Tomorrow is first position day, so if you are one of the brave (insert your own adjective if you feel differently) people still playing…

Corn was lower again yesterday on increasing record yield reports and warmer long range weather maps. Much of the western and central Corn Belt should receive rain this week to “finish off” the crop. Some traders are concerned with only 35% of the crop denting compared to an average of 43%. Last year at this…

Despite a slightly bearish-looking COF report, cattle futures were able to trade firmer for most of the session yesterday. Friday afternoon’s $155 cash cattle trade in western NE and CO (up from a $152-153 trade earlier in the week) was viewed as a solid development and packer margins remain well in the black and should…

The wheat market saw heavy selling pressure yesterday as rains in the Northern Plains continue to hurt quality. Weekly wheat inspections totaled 558 tmt, hitting the high end of estimates from 425-550, but lower than last week’s 597 tmt. Egypt issued a tender for 55-60 tmt for optional origin wheat for LH Sept. shipment. Pakistan…

Weaker overnight with a small drop in conditions, but we are still at record level for this time. The Sept. is getting beaten down again today and looks like a squeeze is not going to happen. Rains are forecasted and falling, so conditions and, more importantly, pod filling are on track to fulfill the excellent…

Good rains over the weekend, reports of record yields across the Southeast and Delta, and pressure in the other grains all weighed on the corn market yesterday forcing it to settle 4 lower. Much of the interior basis levels were weaker also. Prices, however, are getting low enough to attract some new export business. Crop…

Despite trading weaker out of the gate yesterday morning and sharply lower by mid-morning, live cattle futures were able to recover and close with a mixed result yesterday afternoon. Feeder cattle futures traded the $3.00 limit lower at one point mid-morning before closing mostly $1.80-2.30 lower. Additional cash cattle business at $153 in both KS…

The wheat market is finding support as the 5 and 25-day moving averages are crossing. Wheat prices have been chopping around recently with no news to cause a move higher or lower to stick. Ukraine’s ag minister announced there will be no reason to halt exports as 30 mmt is available for sale. EU export…

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