Yntegra Trading | 2015 | March

Date archive: March 2015

Cattle futures opened near unchanged and traded mixed yesterday; a quiet, low volume start to the week. Futures did not really respond to the $2 higher $165 cash trade late on Friday afternoon and continue to trade at discounts to the cash market which seems to have become their standard operating procedure for much of…

Wheat gained 15-23 cents on Monday across the three exchanges, as dry weather in the Plains and cool, wet weather in the Midwest saw fund short-covering. Matif wheat was up €2.50, following the U.S. strength but cash premiums dropped, offsetting most gains. Export inspections totaled 322 TMT, falling short of the estimate range of 400-550…

The soybean complex is modestly lower this morning ahead of the Prospective Planting and Quarterly Stocks report, and the market is seeing a little reversal from Monday’s gains. Export inspections outpaced the 450-600 TMT estimate range, with a five-week best of 656 TMT. The Brazilian harvest has slowed slightly this week at 68% complete vs….

Trade eagerly awaits the acreage and stocks report today to get a clearer picture of new crop price direction and range. Report will be released at 11:00 CST. Overnight trade was slightly lower for all grains. Funds bought their way back to a more neutral position, entering into the day net short 18K contracts. Wheat…

After a six day, $8 rally, the cattle markets traded softer for most of the session yesterday, consolidating recent gains and now awaiting direction from this week’s cash trade. Last week’s $163-165 cash market was a 10-week high and most anticipate something higher yet in coming days. Packer bids have been sparse, while feedyard asking…

Wheat turned higher overnight on light volume as weather concerns remain, but weak export sales took KC back near unchanged this morning. Export sales were poor this week with 102 TMT in sales, compared to the estimate range of 200-400 TMT. SovEcon’s Russian grain harvest estimate came in at 93 MMT, down from LY and…

Not even a bullish export report for the whole complex could rally a component other than oil. An interesting day as volume was up a bit, but the whole complex added OI in a relatively strong fashion. July and November contracts led the charge in beans OI, July and December were benefactors in meal of…

Corn values traded higher throughout most of the session as funds propped values up as the buy their way back to a more neutral position pre-report. Funds are now net short 16K contracts. Basis is firming in the interior as end users push to get corn on the market. We have seen more new crop…

The USDA’s monthly COF report looked about as neutral as they come, but the Friday afternoon cash cattle trade was encouraging for the bulls. It was a mostly $163 trade in the South, but further USDA reporting yesterday showed values as high as $165 traded in CO and $165.50 in NE, all up from a…

Overnight trade was lower for wheat in response to improved crop conditions, dipping lower to fill the gap from Monday. State crop conditions released after the close yesterday showed improvements in HRW areas: KS 41% G/E unchanged, OK 44% G/E up 4%, and TX 55% G/E up 4%. SRW areas also saw improvement last week;…

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