Alan Brugler
Corn Correcting Lower on Wednesday
BarchartWed May 8, 11:59AM CDT
Futures are pulling back after a couple weeks of rallying and a USDA report on the horizon. Contracts are down anywhere from 6 to 8 cents across most front months on the midweek session. Weekly EIA data showed ethanol production at 965,000 barrels per day for the week that ended...
Hogs Put Together Midday Rally on Wednesday
BarchartWed May 8, 11:59AM CDT
Lean hogs were weaker to start the midweek session, but are posting midday gains of 7 to 75 cents. USDA’s National Average Base Hog negotiated price was back down $1.60 in the Wednesday AM report at $92.58. The CME Lean Hog Index was back up 23 cents on May 6...
Wednesday Weakness in the Wheat Market
BarchartWed May 8, 11:59AM CDT
Wheat are trading lower across all three exchanges on Wednesday. Chicago contracts are down a 9 to 11 cents at midday. Kansas City futures are 9 to 14 cents lower on the day. MPLS spring wheat is 9 to 15 cents in the red. Forecasts for rain in drier parts...
Cattle Fading on Wednesday with Weaker Beef Print
BarchartWed May 8, 11:59AM CDT
Live cattle are fading the Tuesday gains with contracts down $1 to $1.50. Cash trade has yet to develop this week, with the Central Stockyards Fed Cattle Exchange having no sales on the 1,890 head listed. Bids were running $184, with $185-186 asks. Feeders are down $1.95 to $2.40 on...
Cotton Posting Wednesday Gains
BarchartWed May 8, 11:59AM CDT
The cotton market is shooting higher on Wednesday, as contracts are up 170 to 245 points with May expiring today. The US dollar index is up 105 points, a negative input, while crude oil is 52 cents higher. Precip is expected for a wide swath of the Southeast US over...
Soybeans Pulling Back on Wednesday
BarchartWed May 8, 11:59AM CDT
Soybeans are taking a breather on Wednesday, showing midday losses of 10 to 13 cents across most contracts. Soymeal is trading $3.70/ton lower in the July contract. Soy Oil is following along, with contracts down 34 points at midday. Weekly Export Sales data will be updated on Thursday morning, with...
Corn Extending Weakness into Wednesday
BarchartWed May 8, 7:32AM CDT
Corn prices are posting 2 to 3 cent losses on Wednesday morning. Futures slipped back on Turnaround Tuesday, with nearby contracts down ¼ to 3 ½ cents. Other contracts were steady to a penny higher. We got confirmation of a slowdown in US planting on Monday, but traders are looking...
Soybeans Start the Midweek Session Lower
BarchartWed May 8, 7:32AM CDT
Beans are trading 5 to 7 cents in the red so far in the midweek session. Bear spreading resulted in old crop losses of ½ to 2 ½ cents. New crop contracts were up 5 ¼ to 9 ¾ cents across most months.. Soymeal got some pull back with contracts...
Hogs Switch Focus to Wednesday Following Weaker Cutout
BarchartWed May 8, 7:32AM CDT
Lean hogs were firmer on Tuesday, as contracts were up 15 to 62 cents. USDA’s National Average Base Hog negotiated price was up 84 cents in the Tuesday afternoon report at $93.25. The CME Lean Hog Index was back down 16 cents on May 3 at $90.80. USDA’s National Pork...
Wheat Extends Pullback on Wednesday
BarchartWed May 8, 7:32AM CDT
Wheat prices are down another 7 to 12 cents on your Wednesday morning. Futures faced some weakness on Tuesday after the last couple weeks of rallying. Chicago contracts were down a penny to 7 ½ cents, as Kansas City futures were down 1 ½ to 11 ¼ cents on the...
Cattle Look to Wednesday Trade
BarchartWed May 8, 7:32AM CDT
Live cattle closed the Turnaround Tuesday session with most contracts 65 cents to $1.27 higher. Cash trade has yet to develop this week, as sales of $184 were reported in the South last week and a few trades in the North in a range of $186-188. Asks so far this...
Cotton Pushing Higher to Start Wednesday
BarchartWed May 8, 7:32AM CDT
The cotton market is trading 62 to 145 points this morning as May expires today. Futures had an inside day on Tuesday, but settled higher. Contracts closed with 30 to 49 point gains across most delivery months, despite negative outside factors and faster than normal planting pace. The US dollar...
Hogs Higher Across the Board
BarchartTue May 7, 5:03PM CDT
Lean hogs posted Tuesday strength, as contracts were up 15 to 62 cents on the session. USDA’s National Average Base Hog negotiated price was up 84 cents in the Tuesday afternoon report at $93.25. The CME Lean Hog Index was back down 16 cents on May 3 at $90.80. USDA’s...
Wheat Pulls Back on Turnaround Tuesday
BarchartTue May 7, 5:03PM CDT
Wheat futures are faced some weakness on Tuesday after the last couple weeks of rallying. Chicago contracts were down a penny to 7 ½ cents, as Kansas City futures were down 1 ½ to 11 ¼ cents on the day. MPLS spring wheat was stead to 6 ¼ cents in...
Soybeans Close Mixed as New Crop Takes Off Higher
BarchartTue May 7, 5:03PM CDT
Beans posted front month weakness, with losses of ½ to 2 ½ cents. New crop contracts were up 5 ¼ to 9 ¾ cents across most months.. Soymeal got some pull back with contracts out through Jan down 50 cents to $4.40. Deferred months were higher. Soy Oil saw gains...