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Market Closes - May 24, 2017
May 24, 2017
Market Closes - May 24, 2017

CBOT futures closed steady to slightly higher with corn and wheat futures ending high range.  Tonight’s 6-10 day and 8-14 day outlooks show the Corn Belt down through Texas will experience on average below to much-below normal temperatures. Cattle futures closed lower, adding to Tuesday’s losses.

Market Closes - May 18, 2017
May 18, 2017
Market Closes - May 18, 2017

Soybean futures fell sharply today as a result of an 8% drop in the Brazilian Real from a political scandal there.  The weaker Brazilian currency may encourage Brazilian bean sales which will reduce demand for U.S. soybeans.   Cattle futures traded both sides of unchanged but closed higher to strongly higher (feeder cattle) and in the upper end of the range.

Market Closes - May 17, 2017
May 17, 2017
Market Closes - May 17, 2017

The CBOT was influenced today by a weaker US Dollar and wet weather in the western Corn Belt. Wet soils could trim corn acres and pad soybean acreage.  Cattle futures closed higher with support stemming from the June Live Cattle contract’s sharp discount to the cash market around $135.

Market Closes - May 8, 2017
May 8, 2017
Market Closes - May 8, 2017

CBOT futures closed strongly lower on improving weather forecasts that could get planting progress back on schedule.  Traders are preparing for the USDA WASDE report coming on Wednesday.  Cattle futures opened lower but quickly turned higher and closed very strongly near the highs of the day (the June LC contract is an exception with a loss of 52 cents).

Market Closes - May 2, 2017
May 2, 2017
Market Closes - May 2, 2017

While CBOT futures traded higher overnight, markets sold off in the day session to close steady to mostly lower.  Cattle futures closed mostly higher with the nearby June LC contract trading up the daily $3.00 limit much of the day and closed pennies off the limit.  Lean Hog futures rallied on a stronger cash hog market and higher pork values.

Market Closes - May 1, 2017
May 1, 2017
Market Closes - May 1, 2017

Led by the KC wheat market, CBOT futures pushed sharply higher with gains magnified by heavy short-covering by the speculative crowd. The buying was spurred by weekend weather that ranged from heavy flooding to heavy snow and freezing temperatures.  Cattle futures closed mostly lower after opening higher at 830 am. However, cattle traders turned sellers when they saw the sustained rally in corn futures.

Market Closes - April 27, 2017
April 27, 2017
Market Closes - April 27, 2017

CBOT futures closed steady to higher with wheat performing the best.  Live and Feeder cattle futures closed up the daily limits, so tomorrow the daily limits will be $4.50 in LC and $6.75 in FC.  Futures soared on a stronger cash cattle market and additional buying spurred on by technical considerations.

Market Closes - April 26, 2017
April 26, 2017
Market Closes - April 26, 2017

CBOT futures closed mostly lower to steady. Corn and soybean futures were pressured late morning by updated weather forecasts that lessened traders concern about planting delays.  Cattle futures soared today on a stronger cash market at the Fed Cattle Exchange supporting ideas that general trade will be up nicely from last week.

Market Closes - April 25, 2017
April 25, 2017
Market Closes - April 25, 2017

Corn and wheat futures closed sharply higher on fund short-covering. Support came from concern that wet soils will delay corn planting and maybe some spring wheat seeding.  Cattle futures closed higher which mostly erased Monday’s losses. Support came from Monday’s friendly Cold Storage report, futures’ discount to cash price and firmer boxed beef values.

Market Closes - April 24, 2017
April 24, 2017
Market Closes - April 24, 2017

CBOT futures closed very mixed with soybean meal the big winner; meal’s gains offset weaker soybean oil to lift soybean futures one percent.  Cattle futures closed strongly lower but well off the day’s lows. Futures were pressured by Friday’s Cattle on Feed Report that reported March Placements higher than expected.