Commodity News
- Cotton Trading Mixed on Wednesday
- The cotton market is trading mixed at midday, with July back up 73 points. Other contracts are within 5 points of unch, with the exception to the thinly traded October contracts. The outside market factors are helpful, with crude oil up 14 cents and the US dollar index down 627...
- Soybeans Holding Above UNCH Despite Bearish NOPA Data
- Soybeans are holding above steady on the midweek session, as contracts are up 1 to 5 ¾ cents despite an ugly April crush number from NOPA. Soymeal futures are up 50 cents/ton. Soy Oil is back 62 to 67 points higher as tighter NOPA stocks were reported. This morning’s NOPA...
- Hog Mixed on Wednesday
- Lean hogs are mixed on Wednesday, with June down 70 cents, with other contracts slightly above unch. USDA’s National Average Base Hog negotiated price was up $1.17 from the Tuesday afternoon print at $92.00 on Wednesday morning. The CME Lean Hog Index was back up 7 cents on May 13...
- Corn Fades Off Early Strength to Midday Losses
- Corn shot higher in early morning trade, but are fading lower on Wednesday. Contracts are down 3 to 4 cents across most nearby months at midday. EIA data from this morning showed that 1 million barrels per day of ethanol was produced during the week of 5/10. That was a...
- Wheat Well Off Session Highs at Midday
- The wheat complex is fading the early double digit gains with losses reported at midday. Chicago contracts are down 5 to 6 cents in the front months. Kansas City futures are down 5 to 7 cents at the midday print. MPLS spring wheat futures are down 4 to 6 cents....
- Cattle Holding Higher on Wednesday’s Midday
- Live cattle are extending the week’s gains, as contracts are up 17 to 50 cents at midday. Cash action has been quiet this week. The Central Stockyards Fed Cattle Exchange saw no sales on the 1,352 head listed on Wednesday morning, with bids of $181-181.25 and asks in the $185-186...