Ag Commentary
Hogs Slip Lower into the Close
Lean hogs were back to lower trade on Wednesday, with contracts down 2 to 35 cents on the day. USDA’s National Average Base Hog negotiated price was at $89.05 in the Wednesday afternoon report, up $1.22 from the day prior. The CME Lean Hog Index was down another 37 cents...
Corn Closes Near the Day’s Lows
Corn futures posted losses of 1 ½ to 7 ¼ cents out to the 24/25 MY contracts, with the rest showing fractional gains. Pressure from the dollar and losses in wheat weighed on things into the close. The Tuesday afternoon Crop Progress report showed that Iowa is the only of...
Soybeans Extend Losses into Wednesday’s Close
Soybeans closed the Wednesday session with nearby contracts 10 to 15 ½ cents lower and other deferreds 5 to 9 cents in the red. Soymeal weighed on the bean market, with losses of $5 to $8.40/ton at the close. Soy Oil was a bright spot for the bulls with contracts...
Cotton Closes Lower with Outside Pressure
Cotton futures were down 10 to 133 points across the board on Wednesday. Outside factors were a negative influence, with crude oil down 54 cents/barrel and the US dollar index up 541 points. The weekly Crop Progress report showed 59% of the cotton crop planted as of Sunday, 2% ahead...
Wheat Closes on the Lower Side of Unchanged
The wheat complex slipped lower into the Wednesday close as a stronger dollar weighed on things. Chicago contracts were down 2 to 7 1/2 in the front months, with back months up 1 to 5 cents. Kansas City futures were down 1 to 11 ½ cents at the close. MPLS...
Cattle Collapse on Wednesday
Live cattle closed out the Wednesday session with contracts $1.20 to $2.07 lower. Cash action has been quiet this week with some light $190 reported in the North. The Central Stockyards online Fed Cattle Exchange auction saw sales of $188 on 114 head of TX, $191.50 on 40 head out...