- Hogs Up Sharply Again on Thursday, But Cash A Little Weaker in PM
- February lean hog futures closed $2.62 stronger on Thursday. The other front months were also up by triple digits. April was up $2.65, with a new LOC high of $94.47. USDA’s National Average Base hog price for Thursday morning was back down $3.72 to $66.56. The CME Lean Hog Index...
- Soybean Futures Dip on Overnight Profit Taking
- With a big 2 day rally under their belt, overnight soy markets were focused on profit taking. Prices are 3 to 7 cents lower, but also well above the overnight lows. Preliminary OI data confirmed net new buying of 17,763 contracts as the driver to new contract highs. March beans...
- Cattle Futures Stable as Cash Cattle Trade Mostly $137
- Thursday’s session ended with live cattle futures 7 to 27 cents weaker. The bonus FCE auction sold 681 of the 3,398 head listed for $137. The other pens went unsold on $137.50 to $138.50 asks. USDA maintains $137 for the bulk of cash sales this week. Some higher graded cattle...
- Wheat Futures Down 5 to 6 Cents Ahead of Export Sales Data
- Wheat prices are 5 to 6 cents lower ahead of the weekly Export Sales report. Yesterday winter wheat markets faded as HRS added a nickel to the upside. SRW gave back 5 1/2 to 6 1/2 cents in the front months, with new crop a 9 cent discount. Preliminary open...
- Cotton Futures Down on Profit Taking Ahead of Weekend
- Cotton is 58 to 124 points lower early in the Friday session. On Thursday the board pulled back after setting new LOC highs through the week. At the bell yesterday, prices were 17 to 108 points in the red. For New crop, Thursday’s session ended mostly weaker, with March ’23...
- Corn Down 3 to 4 Cents in Early Friday Trading
- Corn futures start the last trading day of the week 3 to 4 cents lower. On Thursday, prices faded from early gains to close fractionally mixed to 2 1/2 cents in the red. New crop corn prices were the weaker on the day. Preliminary open interest showed a little net...
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January USDA Report highlights
Corn: USDA reports a slight increase in supply figures. Along with a decrease in exports but increase in ethanol use, that virtually cancel eachother out on the demand side. Resulting in a 47 million bushel increase to ending stocks.
Soybeans: There was little to no change on the supply and demand side for beans. USDA reported a slight increase in ending stocks to 350 million bushels. South American weather will be important to watch over the next few months.
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