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Market Updates

Market Closes - October 24, 2016
October 24, 2016
Market Closes - October 24, 2016

CBOT futures closed strongly mixed with sharp gains in soybean oil futures lifting soybean futures, while corn and wheat posted 1-3 percent losses.  Cattle futures closed strongly higher, making for 3 straight days of big gains in futures. The markets actually gapped higher at the opening bell which is a positive chart signal.

Market Closes - October 12, 2016
October 12, 2016
Market Closes - October 12, 2016

CBOT futures closed much lower with corn and wheat suffering the worst losses in reaction to USDA’s 11 a.m. crop production and supply-demand reports.  Futures held up for about 10 minutes but eventually headed south for the balance of the session.   Cattle futures closed sharply lower with many contracts making new contract lows.

Market Closes - October 11, 2016
October 11, 2016
Market Closes - October 11, 2016

CBOT futures closed steady to slightly higher ahead of tomorrow’s USDA Crop Production and WASDE reports.  A very strong US Dollar and weaker crude oil futures weighed on prices as did disappointing weekly export inspections for corn and wheat; soybean inspections were strong.  Cattle futures closed lower, adding to Monday’s sharp losses. Choice Beef lost .82 to 183.18 and Select fell 2.11 to 172.75.

Market Closes - October 10, 2016
October 10, 2016
Market Closes - October 10, 2016

CBOT futures closed mixed amid active corn and soybean harvest. With USDA closed today, there wasn’t any export news or Crop Progress reported.  Chicago Wheat futures led the market with strong gains on short-covering (near record short position).  Cattle futures closed sharply lower with some LC contracts down the daily $3.00 limit. Today’s losses wiped out the gains made last week. 

Market Closes - September 28, 2016
September 28, 2016
Market Closes - September 28, 2016

CBOT futures traded narrow ranges today with mostly lower closing prices near the day’s lows. Futures traded higher early morning but selling resumed as the huge harvest rolls on.  Following Tuesday’s limit-down move in some LC and FC contracts, cattle futures started lower this morning but bargain hunters took the market to higher closes.

Market Closes - September 27, 2016
September 27, 2016
Market Closes - September 27, 2016

CBOT futures closed higher and near the day’s highs as prices rallied steadily after posting lows early morning. November Soybeans and soybean meal futures traded to new lows not seen since last April.   Cattle futures closed sharply lower with a few contracts down the daily trading limit of $3.00 in LC and $4.50 in FC.

Market Closes - September 21, 2016
September 21, 2016
Market Closes - September 21, 2016

CBOT futures closed mixed again today but the soy complex reversed yesterday’s strong move higher. Today’s profit-taking shouldn’t be surprising after a 50-cent rally in four trading days.  After Tuesday’s minor setback, cattle futures pushed higher again with the Live Cattle contracts trading to new highs for this September rally.

Market Closes - September 20, 2016
September 20, 2016
Market Closes - September 20, 2016

CBOT futures closed higher led by soybean oil and soybeans.  The soy complex was supported by the Malaysian palm oil market and strong nearby demand for soybeans as harvest is just starting – and harvest may be slowed by rain.  Cattle futures traded both sides of unchanged and closed lower.

Market Closes - September 19, 2016
September 19, 2016
Market Closes - September 19, 2016

CBOT futures closed mixed.  Soybean futures closed slightly higher with support coming from the soybean oil market which rallied on rising palm oil prices.  Live Cattle futures closed mixed with the four contracts through April 2017 settling between $107.25-107.90.

Market Closes - September 15, 2016
September 15, 2016
Market Closes - September 15, 2016

CBOT futures closed lower except for the soy complex. Corn and wheat futures were weighed on by disappointing weekly export sales reports this morning. Cattle futures closed higher with the October LC contract gapping higher; resistance comes in at 108.45, the August high.