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It started as a shift, and is now believed an avalanche. Consumer demand is drying up. Packers are going to continue to keep slaughter rates at levels beneficial to them. This leaves the cattle feeder, having paid all the way up to last week, the highest price ever for incoming inventory, with margins eroding exponentially.
Chicago futures ended the session with ¾ to 3 ¾ cent gains on Tuesday. KC HRW futures closed the day 5 to 6 ½ cent gains. MGE futures closed up by 2 ½ to 6 ¾ cents. USDA reported a large private export sale of 220k MT of SRW to...
Corn futures ended the Tuesday session with 1 ¼ to 2 ¾ cent losses. Dec is still at a 10c gain for the week. Safras and Mercado estimated Brazil’s first crop at 26.86 MMT, down from their prior 26.9 MMT forecast. They have the total output forecasted at 135.7 MMT,...
Soybean futures fell by 0.3% to 0.4% on Tuesday. That has Nov set at as 2 ¼ cent loss for the week’s move. Soymeal futures ended with $1.70 to $4.40 losses, leaving the October contract at the lowest print since July ’22. Soybean Oil futures closed the session with 30...
A fortnightly weather risk outlook on the global production of any (but not limited to) of the following: corn, soy, wheat, rapeseed, sunflower and palm oil – by Marcus Weather Inc.
The rise of AI is fueling insatiable demand for semiconductors - and worsening a water shortage that no one on Wall Street seems to be paying attention to. Here are 3 ETFs for investors looking to profit from the impending water crisis.
Midday corn prices are 2-3 cents off their lows but still 1 ½ to 2 ¼ cents in the red. Safras and Mercado estimated Brazil’s first crop at 26.86 MMT, down from their prior 26.9 MMT forecast. They have the total output forecasted at 135.7 MMT, 300k MT above the...
Beans are down 4 ¼ to 6 ½ cents so far through Tuesday. The products are also red so far, with $2 to $4 losses in Soymeal futures and 15 point losses in Soybean Oil futures. USDA announced a 265k MT soybean sale to China this morning. The Strategie Grains...
SRW is 2 ¼ to 7 cents higher so far. The HRW market is trading up by 5 to 7 ¾ cents. Minneapolis wheat futures re up 3 to 9 cents. USDA reported a large private export sale of 220k MT of SRW to China. Interfax reported Russian grain exports...
Cattle markets looked strong in the early sledding but finished yesterday's session well off the highs of the day.
Corn and soybean futures are lower in the overnight trade following the release of updated yield and production estimates from StoneX.
Corn prices are 1 ¼ to 2 ½ cents lower in early Tuesday futures trading, but are off their overnight lows. Dec saw a 3 ¾ cent range overnight, all of which spent in the red. Corn bulls started the new month on the right foot, with some double digit...
Soybeans are trading double digits lower into the Tuesday’s day session. The products are also weaker, including another $7 drop in meal this AM. After a contested Monday session, soybean futures had closed 2 to 6 cents in the black to start October. Soymeal futures closed off their lows, but...
After a mostly higher overnight trade, the SRW market is gaining and back near the overnight nights. The hard red markets are fractionally mixed so far into the day session. The wheat markets posted double digit gains to begin the month, erasing some of Friday’s massive sell off. CBT futures...
After a contested Monday session, the soybean futures closed 2 to 6 cents in the black to start the new month of positioning. Soymeal futures closed off their lows, but were still down by $6 to $8.30/ton. Soybean Oil futures closed 146 to 241 points higher on the day. The...
Front month wheat futures ended the session with double digit gains into the new month of trading. CBT futures closed 17 ¼ to 23 ¼ cents higher with 4% gains in the Dec contract. KC wheat ended up by 11 to 13 cents, with a 1.9% gain in Dec. HRS...
The Monday session started the new week and the new month with double digit gains of over 2% across the corn market. That set the Mar contract back above the $5 mark, though Dec remains at a 15c discount. The weekly Crop Progress report showed 82% of the corn crop...
Volatility is about all that has transpired the past two days of trading. I anticipate more volatility, simply due to the volatile nature of our current economic environment. Through the duration of the next 5 months, cattle feeders will have to see the price of fat cattle increase, or the cost of gain plummet, in order to keep from exponential losses.
Corn futures are back above the $5 mark in the May and March contracts with 9 cent gains across the board. Dec is still at a 15c discount as the lead month. Open interest again increased with harvest progress, rising 7,655 contracts on Friday. USDA’s weekly Inspections data showed 625k...
The new week, and new month, of wheat trading has the front month futures firming up by double digits. CBT SRW is up by 2% to 3% so far. KC HRW futures are 1.5% in the black at midday. Front month spring wheats are trading 0.7% to 1.1% higher. Weekly...
Last week represented the end of the month and end of the 3rd quarter. During this time, US corn and wheat futures endured relentless price pressures that were driven by bearish fundamentals. Since July 1, the December’23 corn contract declined by $.15/bu, Chicago wheat by $1.25/bu, Kansas City wheat by...
Last week represented the end of the month and end of the 3rd quarter. During the third quarter, US soy and soy derivative futures endured relentless price pressures that were driven by bearish fundamentals. Since July 1, the November’23 contract declined by $.69/bu, while December’23 meal and oil futures contracts...
