Date archive: February 2015

Cattle futures traded both sides of unchanged before spending the balance of the session moving lower, closing with $1+ losses in both the feeders and the fats. Friday’s slightly disappointing COF numbers, a significant slowdown in packers’ slaughter pace, and a weaker $158 cash trade on Friday all contributing to the weakness. Most contracts have…

Wheat closed mixed across the exchanges on Monday, as funds were major sellers of grains, especially corn. Export inspections outpaced the estimate range this week with 502 TMT in executions as grains saw a bigger share of the movement compared to soybeans for the week. Funds sold 2K contracts of CBOT wheat yesterday, which makes…

A decent bounce as we head toward the finish line of the insurance pricing on Friday. Currently, the price stands about $9.6675 with a C/S ratio on insurance at 2.315 not indicating a switch to beans off that pricing. However, input cost not dropping with NC corn values shows more chance that acreage shift could…

Values are weaker as funds focus on liquidation in the corn market. They liquidated 12K contracts and are estimated net long 59K. March corn was down six cents to $3.79 in yesterday’s session and back up a penny and a half overnight. USD is up again. Basis continues to creep up in the country as…

The cattle markets rebounded higher yesterday, recovering most of Tuesday’s losses on modest trade volume. We saw light cash cattle trade take place at the $160 level, down $2 vs. last week’s mostly $162 market, but yesterday afternoon the remaining $160 packer bids were passed. As noted previously, this week’s showlist count is larger and…

Quiet trade overnight on light volume following double-digit losses on Wednesday due to fund liquidation and more proof U.S. wheat is overpriced globally. Egypt cancelled a tender for U.S. wheat because they said the offers were too high, which is not surprising based on recent Egyptian tenders. Egypt turned around and announced a tender for…

The Ag forum acreage will support new crop because there was less switching than many prognosticators had penciled in. Beans predicted at less than last year’s number at 83.5 MA is not bearish. That said, even a 91-92 MMT Brazilian crop keeps the world supply hefty and upside limited without U.S. weather issues. Options expiration…

Values were down across the entire grain complex in Wednesday’s session. March corn traded down for most of the session and closed near the low at $3.83 3%. Not a surprising result after resistance held firm on the bean rally Tuesday. Basis remains flat across the Belt to slightly firmer. USDA Ag Outlook released new…

The cattle markets finished last week on a solid note, up $2.10 in Apr. live cattle and $3.55 in nearby feeders. Some traders are eyeing a new BSE case in Canada as potentially supportive to U.S. beef exports, but more importantly the cash cattle markets continue to hold firm with additional $162 live trade in…

Wheat finished the week stronger on fund short-covering as concerns were building on cold, dry weather especially for SRW areas. Overnight trade continued the rally as winterkill concerns are on the forefront this morning across winter wheat areas. Iraq tendered for wheat over the weekend and Australia was the lowest-priced offer at $280/ton C&F. U.S….

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