Commentary
- Wheat Posting Steady Trade at Midday
- The wheat complex is back to steadier trade on Tuesday, with contracts trying to post strength. Chicago SRW contracts are fractionally to a penny higher at midday. KC HRW futures are down 2 to 3 cents at midday. MPLS spring wheat are steady to fractionally lower across most contracts on...
- Hogs Posting Midday Gains on Tuesday, as Pork Firms
- Lean hog futures are steady to 75 cents higher so far on Tuesday. USDA’s national base hog price was reported at $101.32 on Tuesday morning. The CME Lean Hog Index was another 32 cents higher on July 24 at $98.23. USDA’s pork carcass cutout value was up $1.30 in the...
- Soybeans Getting a Tuesday Bounce as Ratings Slip
- Soybeans are trading with 7 to 9 ½ cent gains as futures get a bounce at Tuesday’s midday. The cmdtyView national average Cash Bean price is 7 cents higher at $11.71 1/4. Soymeal futures were 40 cents lower to 90 cents higher, with Soy Oil futures down 90 to 95...
- Corn Rallying Back on Turnaround Tuesday
- Corn futures are deviating from the $4.01 losses in crude at midday with deteriorating conditions giving bulls a reason to take back the Monday losses. Contracts are up 7 to 8 cents on Turnaround Tuesday. The CmdtyView national average Cash Corn price was up 8 cents at $4.29 1/2. USDA...
- Cattle Bouncing Back Higher on Tuesday
- Live cattle futures are up $1.97 to $3.30 across most contracts at midday. Early bids of $228 are being reported which is just slightly lower than the $230-231 trade from last week. Feeder cattle futures are showing front month gains of $2.45 to $5.75, with November and beyond down 45...
- Cotton Posting Modest Midday Strength
- Cotton futures are trading with midday gains of 7 to 15 points on Tuesday, shrugging off early weakness. Crude oil is down another $4.10 per barrel, with the US dollar index down 0.224. Weekly Crop Progress data showed 81% of the US cotton crop squared as of Sunday, now steady...
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