Commodity News
- Wheat Turning Around into Tuesday
- The wheat market is trading firmer this morning, following Monday’s collapse as the market put things on sale to trigger more export business. Chicago contracts were down 14 1/2 to 116 1/4 cents at midday. Kansas City futures were 10 to 15 1/4 cents in the red and exploring new...
- Morning Recovery in Corn Market
- Corn is staging a fractional to 1 ½ cent recovery into the day portion of Tuesday. Futures closed out the Monday session with contracts down 1 ¾ to 7 ¾ cents lower across the board. Open interest dropped by 31.6k contracts across the corn futures market, though following options expiration...
- Soy Gaining for Tuesday
- Soybeans are trading 4 to 7 cents higher, with meal up by $2 to $5 and soy oil 40 points in the black as the soy complex pushes upward into Tuesday. Beans were mixed at the close, with front months fractionally to a penny weaker and other contracts steady to...
- AM Bounce for Cotton Market
- Cotton is working near the highs from overnight action with 15 to 23 point recovery into Tuesday’s day trade. Futures posted losses of 144 to 180 points on Monday to start the week off on a lower note. Crude oil was down $0.52/barrel, with the US dollar index 19 points...
- Spec Traders Shown With Net Short in Feeder Cattle
- Live cattle futures tried to rebound at the Monday open, but contracts ended the day with $1.47 to $2.82 losses. Most of Monday’s action was compiling showlists, with a few $175 cleanup sales reported in the South. Feeder cattle futures continued to implode, posting losses of $4.72 to $6.52. The...
- Hogs Head Lower to Start New Week
- Hogs saw losses of 62 cents to $1.85 on Monday, with December the exception, up 30 cents. USDA’s National Average Base Hog price was reported at an average price of $58.85 in the Monday PM report on light action, which was up $1.36 from the Friday afternoon price. The CME...