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Market Updates

Market Closes - April 3, 2017
April 3, 2017
Market Closes - April 3, 2017

CBOT futures closed mixed with prices continuing to react to Friday’s USDA reports on grain stocks and prospective plantings.  The reports were generally negative for soybeans and positive for corn.  Cattle futures closed lower with traders believing the cash market will continue to move lower; this was supported by a weaker boxed beef market. 

Market Closes - March 30, 2017
March 30, 2017
Market Closes - March 30, 2017

CBOT futures closed lower with wheat and soybeans closing near the day’s lows. Corn traded narrow ranges while soybean futures dropped to new lows for this down move that started in February. Traders prepared for tomorrow’s USDA reports.  Cattle futures closed moderately lower with the trend returning downward after yesterday’s one-day bounce.

Market Closes - March 29, 2017
March 29, 2017
Market Closes - March 29, 2017

CBOT futures had another day of small price changes as traders are focused on Friday’s USDA reports. Large crops in South America and the bearish bias of the spec funds should cap futures until new fundamentals appear.  Cattle futures closed higher on short-covering.  

Market Closes - March 28, 2017
March 28, 2017
Market Closes - March 28, 2017

CBOT futures closed steady to higher with fairly narrow trading ranges. Cattle futures closed slightly higher following Monday’s big losses.  Lean Hog futures closed moderately lower, adding to sharp losses the past two trading days.

Market Closes - March 27, 2017
March 27, 2017
Market Closes - March 27, 2017

CBOT futures closed steady in corn and lower in wheat, soybeans and meal futures. Wheat was pressured by a wet forecast for the Plains; KC wheat led the declines. Corn and soybeans are under pressure from fund selling and big South American crops.  Cattle futures closed sharply lower and near the day’s lows as traders reversed some bullish trades made last week when countries banned Brazilian beef.

Market Closes - March 21, 2017
March 21, 2017
Market Closes - March 21, 2017

CBOT futures closed little changed and mixed with soybeans and soyoil squeezing out small gains. MGE and KC Wheat dropped the most on ideas of improved rainfall in the Plains.  Cattle futures closed higher, led by the Live Cattle market. Support came from stronger boxed beef values, technical buying on prices touching new highs, and April LC discount to the cash market.  

Market Closes - March 20, 2017
March 20, 2017
Market Closes - March 20, 2017

Corn and wheat futures closed lower and near the day’s lows; this followed a strong opening on Sunday evening supported by short-covering.  Soybeans closed steady but still at the lows of the day.  Huge South American crops are weighing on the market.  Beyond the nearby Live Cattle contract, cattle futures closed slightly higher, reaching new highs for this rally that started in February.

Market Closes - March 17, 2017
March 17, 2017
Market Closes - March 17, 2017

CBOT futures closed little changed on the day and for the week. Futures found support this week from a weaker US Dollar Index and good corn/bean exports.  Live Cattle only edged higher despite the very strong cash cattle market and rising boxed beef market.  Lean Hog futures dropped for the third straight day, pressured by lower cash hog prices.

Market Closes - March 16, 2017
March 16, 2017
Market Closes - March 16, 2017

Corn and soybean futures closed slightly higher in mid-range, while wheat ended mixed by Exchange. Strong export sales for corn and soybeans supported those prices.   Cattle futures closed moderately higher on yesterday’s stronger cash cattle market of $128/cwt – a $3-5 increase over last week.  Lean Hog futures closed slightly lower – for the second day in a row. This comes after stronger markets on Monday and Tuesday.

Market Closes - March 8, 2017
March 8, 2017
Market Closes - March 8, 2017

March 15 Crop Insurance Deadline Nears

CBOT futures closed lower for a second day with corn and wheat ending close to the day’s lows.  Wheat led the way down as the US Dollar strengthened.  Cattle futures managed modest gains at the closing bell after a volatile trading day.