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Market Updates

Market Closes - July 25, 2018
July 25, 2018
Market Closes - July 25, 2018

CBOT futures closed higher with wheat and corn leading the way up. Wheat soared today and is now 70 cents above the July lows and are near the mid-June highs.  Cattle futures closed mixed with LC outperforming FC. This market generally moved sideways as it waits for more direction from the cash fed market. 

Market Closes - July 23, 2018
July 23, 2018
Market Closes - July 23, 2018

CBOT futures closed mixed with mostly small price changes. Most contracts opened higher Sunday evening, but soybeans closed lower and near the day’s lows.  Cattle futures closed higher except for the nearby contracts.  Lean Hog futures closed higher on short-covering after LH hit new contract lows on Friday.

Market Closes - July 19, 2018
July 19, 2018
Market Closes - July 19, 2018

Corn, beans and wheat closed higher and at/near the day’s highs. Wheat led the market higher on ideas that some of our competitors are seeing some production losses due to weather.  Cattle futures closed narrowly mixed after trading tight ranges, especially compared to yesterday’s market.

Market Closes - July 18, 2018
July 18, 2018
Market Closes - July 18, 2018

CBOT futures closed narrowly mixed after trading mostly in relatively small price ranges. This week’s price action has been positive in that we’ve seen three consecutive days of higher closes in corn and soybean futures; the cumulative gains are around 6 cents in corn and 20 cents in soybeans.  Live and Feeder cattle futures closed strongly higher with the nearby August contracts leading the way up. 

Market Closes - July 16, 2018
July 16, 2018
Market Closes - July 16, 2018

CBOT futures ended the day from several cents lower in wheat to several cents higher in soybeans, with corn closing flat. Futures were pressured overnight but short-covering in soybeans helped corn test the upper end of its range.  Cattle futures opened higher and closed even higher in the upper part of the trading range. 

Market Closes - July 12, 2018
July 12, 2018
Market Closes - July 12, 2018

CBOT futures closed steady to higher following the midday USDA WASDE report which was generally friendly for corn and negative for soybeans. US and World ending corn stocks were forecast below trade expectations, while soybean stocks came in much higher than expected as USDA incorporated the current Chinese import tariffs into its projections.  Cattle and hog futures rebounded nicely today following yesterday’s rout.

Market Closes - July 11, 2018
July 11, 2018
Market Closes - July 11, 2018

Commodity and equity markets took a big hit today, resulting in a very RED quote screen. The negative, risk-off trade started early after it was announced the US plans 10% tariffs on an additional $200 billion of Chinese goods entering the US.  CBOT futures closed sharply lower and at/near the day’s lows.  Cattle and Lean Hog futures also suffered significant price losses amid the day’s general sell-off.

Market Closes - July 10, 2018
July 10, 2018
Market Closes - July 10, 2018

CBOT futures closed steady to much lower with Chicago wheat leading the way down. Wheat was pressured by large supplies and strong export competition. Corn dropped on above-average crop ratings and forecasts for rain next week to keep the crop looking strong.  Live Cattle weakened in the 2018 contracts and edged higher for 2019 contracts. Feeder Cattle posted small gains as the CBOT dropped.

Market Closes - May 31, 2018
May 31, 2018
Market Closes - May 31, 2018

CBOT futures closed narrowly mixed.  Corn and soybeans made the day’s highs soon after the 830 am opening and then worked lower.  The U.S. announced several import tariffs on the EU/Canada/Mexico this morning.  Cattle futures opened higher on follow-through to Wednesday strong gains, but sold off on the import tariff news soon after the open, only to later recover some of the losses.

Market Closes - May 29, 2018
May 29, 2018
Market Closes - May 29, 2018

CBOT futures closed sharply lower after trading higher overnight. Futures were pressured early morning and then hit a couple more times as bearish news hit from outside financial markets.  Cattle futures closed mixed with the Live Cattle lower – June LC leading the way down.  Pressure stemmed from last week’s weak cash market, ending near $110/cwt.