Alan Brugler
Soybeans Threating to Pull Back Below $12
Barchart32 minutes ago
Soybeans are struggling on Thursday, as contracts are down 10 to 17 cents at midday, and November threating the slip below $12. Soymeal futures are down $3.90 to $4.10/ton. Soy Oil is also falling at midday, with triple digit losses of 121 points on Thursday. The dam has broken on...
Hogs Soft on Thursday
Barchart32 minutes ago
Lean hogs are posting midday weakness on Thursday, as contracts are down 52 to 92 cents. USDA’s National Average Base Hog negotiated price was down $3.62 in the Thursday morning report at $88.96. The CME Lean Hog Index was up 25 cents on May 7 at $91.28. Pork export sales...
Wheat Pulling Away From Highs, Still Holding Midday Gains
Barchart32 minutes ago
The wheat complex has pulled back from the double digit strength we was earlier in the session but is still higher at midday. Chicago contracts are up 2 to 6 cents so far on the day. Kansas City futures are up 6 to 7 cents at midday. MPLS spring wheat...
Cattle Feeling Weakness Again on Thursday
Barchart32 minutes ago
Live cattle are slipping lower at midday, with contracts mostly a tik to 52 cents lower. Cash trade has been slow to develop this week, with the Central Stockyards Fed Cattle Exchange selling 374 of the 1,890 head for an average of $185. Feeders are trading with midday losses of...
Cotton Heading Lower Despite Positive Export Sales Data
Barchart32 minutes ago
The cotton market continued to slide, as midday action had futures down 82 to 116 points on Thursday. That is despite a round of positive export data for the bulls. The outside market influences are helpful but ignored, as the US dollar index is down 236 points, with crude oil...
Corn Continues Weakness at Midday
Barchart32 minutes ago
Corn is continuing the corrective action on Thursday, as contracts are down fractionally to 3 ents across the front months at midday. There were 364 contracts issued vs. May corn delivery overnight, with ADM stopping all of them for the house account. USDA issued a flash sale of 132,080 MT...
Cattle Focus on Thursday Following Weaker Boxed Beef Prices
BarchartThu May 9, 7:31AM CDT
Live cattle closed the Wednesday session with contracts down 95 cents to $1.57 across the CME. Cash trade has yet to develop this week, with the Central Stockyards Fed Cattle Exchange having no sales on the 1,890 head listed. Bids were running $184, with $185-186 asks. Feeders were weaker on...
Cotton Slip Back Lower Ahead of Export Sales Release
BarchartThu May 9, 7:31AM CDT
The cotton market is trading down 93 to 141 Futures shot higher on Wednesday, closing 106 to 256 points higher as May rolled off the board. Cotton daily limits are expanding back to 4 cents (400 pts) due to July creeping back into that 80 cent level. The US dollar...
Corn Slipping Lower Ahead of Export Sales Data
BarchartThu May 9, 7:31AM CDT
Corn is trading fractionally to a penny lower ahead of this morning’s Export Sales report. Futures pulled back on Wednesday after a couple weeks of rallying and with a USDA report on the horizon tomorrow. Corn ended the midweek session with losses of 3 ½ to 8 ½ cents across...
Soybeans Down To Start Thursday
BarchartThu May 9, 7:31AM CDT
Soybeans are posting lower trade on Thursday morning with contracts down 3 to 5 cents. Bulls took a breather on Wednesday, as contracts were down 9 ¼ to 19 ½ cents across the board. Soymeal also pulled back with contracts down $1.80 to $5.50/ton on the day. Soy Oil posted...
Wheat Back to Heading Higher on Russia Frost Fears
BarchartThu May 9, 7:31AM CDT
The wheat complex is posting double digit gains across most contracts this morning. Wheat saw selling across all three markets on Wednesday. Chicago wheat contracts were down 8 ¼ to 9 ½ cents on the day. Kansas City futures were down 11 to 15 ½ cents at the close to...
Hogs Look to Thursday Trade
BarchartThu May 9, 7:31AM CDT
Lean hogs bounced back and forth on Wednesday, with contracts slipping off the midday pop, but still closing mixed. Contracts were anywhere from a dime lower to 50 cents higher. USDA’s National Average Base Hog negotiated price was back down $1.46 in the Wednesday afternoon report at $91.79. The CME...
Cattle Pulls Back With Weaker Boxed Beef Prices
BarchartWed May 8, 4:49PM CDT
Live cattle closed the Wednesday session with contracts down 95 cents to $1.57 across the CME. Cash trade has yet to develop this week, with the Central Stockyards Fed Cattle Exchange having no sales on the 1,890 head listed. Bids were running $184, with $185-186 asks. Feeders fell weaker on...
Soybeans Pull Back on Wednesday
BarchartWed May 8, 4:49PM CDT
Soybean bulls took a breath on Wednesday, as contracts were down 9 ¼ to 19 ½ cents across the board at the close. Soymeal also pulled back with contracts down $1.80 to $5.50/ton on the day. Soy Oil posted losses of 49 to 71 points to revert back to some...
Cotton Rallies on Wednesday
BarchartWed May 8, 4:49PM CDT
The cotton market shot higher on Wednesday, with futures closing 106 to 256 points higher as May rolled off the board. Cotton limits are reverting to 4 cents due to July creeping back in that 80 cent level. The US dollar index was up 105 points, a negative input, while...