Commentary
- Mixed Midday for Cotton Market
- July cotton is 24 points in the red at midday. The other front months are working higher with 40 to 47 point gains. July is still a 312 point premium to the new crop Dec contract. USDA reported 480,399 RBs of old crop cotton was booked for export during the...
- Mixed but Mostly Weaker Thursday for Hogs
- So far through Thursday the hog market is down 45 cents to $1.10. July contracts are the exception with a midday gain of 20 cents. USDA’s National Average Base Hog price was $1.63 stronger to $94.07. The 6/5 CME Lean Hog Index was 65 cents higher to $81.86. The weekly...
- Cattle Firming Back Up on Thursday
- Following the midweek cooldown, cattle futures are back up by 2 to 70 cents. June contracts are leading the way to stay true to the cash market strength during the delivery period. USDA confirmed sales in NE from $188-$194 yesterday. Feeder cattle futures are 22 to 92 cents higher at...
- Wheat Market Recovering on Thursday
- Midday prices are mostly double digits higher across the wheat market. Chicago futures are trading 9 to 10 1/2 cents higher. KC HRW futures are up 17 to 18 1/4 cents, which has July at a net 7c loss for the week’s move. Spring wheat futures are rallying with gains...
- Soybean Prices Trading in Black
- Front month soybean futures are up by as much as 9 1/4 cents. The new crop contracts are gaining 3 to 4 3/4 cents, as is July, though the September and August contracts are leading the buying action. Midday meal quotes are 60 cents to $1.30 in the red across...
- July Corn Trading Higher
- Corn futures are mixed through midday, following yesterday’s approach. July is again the outlier with a nickel gain at midday. The other front month futures are fractionally to a penny in the red. USDA’s FAS reported 172,709 MT of old crop corn bookings for the week that ended 6/1. That...
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