Yntegra Trading | 2014 | October

Date archive: October 2014

Both live cattle and feeder cattle futures traded firmer yesterday, particularly in the nearby Oct. live cattle contract which expires at noon today. October futures traded $2+ higher by yesterday afternoon as the industry grows more confident in a steady to higher cash cattle trade. We have yet to see any negotiated cash trade take…

The wheat market found light pressure overnight as important technical levels were reached and trade looks at huge global production. A private analyst again increased global wheat output 1 MMT for a new record of 718 MMT. The Australian wheat crop continues to face hardships and now analysts peg the crop at 24 MMT, which…

Beans gave up the ghost of profitability before the break this morning. After trading higher nearly the whole session, beans broke this morning. No bean deliveries on first delivery day. Not much reason to think we will see any either, but OI is pretty solid. It will be interesting to see how fast that dissipates….

Yesterday corn saw a relatively calm trade, closing at $3.74, and overnight settled lower at $3.71 ¼. Looking back on the month, corn has rallied 53 cents from Oct. 1. Weak export sales reports were this week’s surprise and compounded the sentiment there will be corn stockpiled moving into Nov. Funds were short 4K contracts…

Cattle futures continued with their up one day, down the next recent trend yesterday, this time adding a solid $1.00-1.50 in both the feeders and the fats. We still have no confirmed cash cattle trade to report, but packers have been active since Monday morning attempting to get supplies secured. We have heard several reports…

KC wheat was not able to push higher overnight, trading 1 ½ lower at the break. Export sales totaled 299.4 MMT last week, falling short of the estimate range of 350-500 MMT. Class breakdown was HRW 80.8, SRW 75.8, HRS 95.7, and white 47.0 MMT. Russia is reported to be entering the winter with the…

Soybeans saw mixed trading overnight with values firming after the release of export sales. Export sales totaled 2167 TMT, well above estimates ranging 800-1000 and last week’s 935 TMT. Soymeal sales totaled 23 TMT and oil sales totaled 10.6 TMT, both well below estimates. China accounted for 1701 TMT of the total. Meal saw cancellations…

December corn had a nine-cent trading range yesterday and traded both sides of unchanged several times until finally closing three lower. Funds sold a net of 5K contracts. Farmer selling has been picking up on the rally and basis feels heavy in most markets, although the Gulf was a little stronger in the spot market…

Volatility in the cattle market has picked up right where we left off last week, this time with futures surging almost limit higher yesterday. Nearby Oct. futures traded to new contract highs, but not so in the deferreds or feeder contracts which remain below last week’s tops. There remain valid concerns about the state of…

Overnight trade in KC held a narrow four-cent range around Monday’s close, and shows signs of a steady trade today. Weekly export inspections totaled 481 TMT, right in the middle of the estimate range. HRS is ahead of the pace needed to reach the USDA estimate, while HRW is lagging behind its needed pace for…

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