Alan Brugler
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...
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...
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...
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...
Cattle in Rally Mode on Tuesday
BarchartTue May 7, 5:03PM 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...
Corn Faced with Tuesday Weakness As Drier Window Approaches
BarchartTue May 7, 5:03PM CDT
Corn futures slipped back on Tuesday, with contracts down ¼ to 3 ½ cents in the nearbys. Other contracts were steady to a penny higher. We got confirmation to a slowdown in US planting on Monday, but traders are looking ahead towards a period of drier weather across much of...
Cotton Posts Turnround Tuesday Bounce
BarchartTue May 7, 5:03PM CDT
The cotton market saw higher action on Tuesday, as they try to recover from the recent collapse in prices. Contracts closed with 30 to 49 point gains across most contracts, despite negative outside factors and faster than normal planting pace. The US dollar index was up 341 points, a negative...
Hogs Firmer on Tuesday
BarchartTue May 7, 11:58AM CDT
Lean hogs are trading steady to 60 cents higher across most contracts on Tuesday’s midday. USDA’s National Average Base Hog negotiated price was up $1.77 from the Monday afternoon report at $94.18 on Tuesday morning. The CME Lean Hog Index was back down 16 cents on May 3 at $90.80....
Cattle Rallying on Tuesday
BarchartTue May 7, 11:58AM CDT
Live cattle are up $1.15 to $1.80 across most contracts on Turnaround Tuesday. 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. Feeders are rallying $1.30 to $2.50...
Cotton Showing Turnround Tuesday Bounce
BarchartTue May 7, 11:58AM CDT
The cotton market is posting 81 to 108 point gains at midday. The US dollar index is up 196 points, a negative input, while crude oil is 25 cents higher. The US cotton crop was reported at 24% planted as of Sunday, a 9% advance over the last week. The...