Commentary
Soybeans Led Lower By Meal
Soybeans are coming out of the Memorial Day weekend, with midday losses of 9 to 18 ¼ cents. Soymeal is the leader to the downside, with losses of $9.70/ton in the July contract. Soy Oil is showing gains of 62 points in the upfront July contract. This morning’s Export Inspections...
Corn Heading Lower After Gapping Higher
Corn futures started off with strength out of the Monday night open, but are fading lower on Tuesday. Midday action has prices down 4 to 5 cents so far. Export Inspections data showed 1.077 MMT (42.41 mbu) of corn exports in the week that ended on May 23. That was...
Wheat Strength Fading into Midday
The wheat complex saw a sharply higher open out of the three-day weekend, but are well offhte highs at midday. Chicago contracts are trading with just 1 to 2 cent gains so far. Kansas City futures are up 5 to 7 cents across the front months. MPLS spring wheat is...
Cotton Rallying to Start Short Week
Cotton futures are coming out of the Monday holiday with contracts down 75 to 122 points at midday. Outside factors are providing some support, with crude oil up $1.08/barrel and the US dollar index down 253 points. Managed money speculators in cotton futures and options added 8,058 contracts to their...
Hogs Pulling Off Early Lows
Lean hogs are getting some help from a stronger cutout, with contracts off the midday lows and down 17 to 70 cents at midday. USDA’s National Average Base Hog negotiated price was not reported on Tuesday morning due to light volume, with the 5-day rolling average at $86.97. The CME...
Cattle Trade Led Higher by the Feeders
Live cattle are showing midday gains of 40 to 50 cents on Tuesday after Friday’s neutral (compared to estimates) Cattle on Feed report. Cash trade last week saw action at $187 in the south, with trade in the north mainly at $192, with some coming in at $193.50. Feeders are...


  


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