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Market Closes - December 20, 2017
December 20, 2017
Market Closes - December 20, 2017

Again today, soybean futures closed lower and continued the downtrend started 2 weeks ago. The weather forecasts are too favorable in South America.  Corn closed up 2 cents on the wheat strength and rising corn values in China.  Cattle futures closed moderately lower in LC and sharply lower in Feeder Cattle.

Market Closes - December 19, 2017
December 19, 2017
Market Closes - December 19, 2017

CBOT futures closed steady in corn and wheat, but lower in soybeans and meal. Forecasts for rain in South America weighed on the soy complex.  While the nearby December LC closed unchanged, deferred LC and FC contracts closed lower.  Lean Hog futures closed lower in follow-through selling after Monday’s bearish reversal.

Market Closes - December 14, 2017
December 14, 2017
Market Closes - December 14, 2017

CBOT futures closed mixed with the sharp drop in the soy complex standing out today.  The selling was encouraged by rains in Argentina and forecasts for more.  Corn futures managed steady closes but remain near the contract lows established on Tuesday.  Cattle futures closed slightly higher today, but continue a generally sideways patter for the week as traders wait for the cash market to be established.

Market Closes - December 6, 2017
December 6, 2017
Market Closes - December 6, 2017

After trading higher overnight, CBOT futures headed south when trading resumed at 830 am. Pressure came from rain in the extended South American forecast and sliding energy futures.  Cattle futures closed lower in Live Cattle to sharply lower in Feeder Cattle. Futures were pressured by weaker boxed beef values and expectations that fed cattle will trade lower than last week’s average over $120/cwt.

Market Closes - November 27, 2017
November 27, 2017
Market Closes - November 27, 2017

CBOT futures closed mixed. Corn was pressured by wheat’s decline and weaker crude oil.  Soybeans edged higher, but a nickel off the highs, thanks to the rally in soybean meal futures.  Cattle futures closed strongly higher on technical buying.  Lean Hog futures closed higher, led by the nearby December LH contract. 

Market Closes - November 20, 2017
November 20, 2017
Market Closes - November 20, 2017

CBOT futures closed mixed with corn and soybean futures closing near the day’s highs on a late rally. Corn was able to add to those gains, while soybean futures closed steady after trading much lower during the morning.  Cattle futures closed sharply lower due to Friday’s bearish Cattle on Feed Report and confirmation that the spec funds still hold a huge long position.  Lean Hog futures closed strongly higher, pushing above Friday’s highs.

Market Closes - November 16, 2017
November 16, 2017
Market Closes - November 16, 2017

CBOT futures closed mostly lower but MGEX spring wheat gained a nickel. Corn and soybeans closed near the day’s lows as the market lacks any fundamentals to encourage buying.  Cattle futures closed lower as the fed cattle market has traded in the $119-120 area, down $3-5 from last week.

Market Closes - November 14, 2017
November 14, 2017
Market Closes - November 14, 2017

Corn and soybean futures closed lower, while wheat markets were mixed. Pressure originated from yesterday’s bearish action in soybean futures with key chart support levels being broken. Improved weather in South America was also cited. Cattle futures opened near steady but quickly headed lower and then closed down sharply and near the day’s lows.

Market Closes - November 13, 2017
November 13, 2017
Market Closes - November 13, 2017

CBOT futures closed lower with the soy complex leading the market down. Soybeans ended down 12-13 cents and at the day’s lows. Soybeans were pressured by beneficial rainfall in South America and technical selling as important chart support failed – October lows and the 200-day moving averages.   After a roller-coaster day in prices, cattle futures closed little changed but on the negative side.

Market Closes - November 8, 2017
November 8, 2017
Market Closes - November 8, 2017

CBOT futures closed little changed except for MGEX spring wheat futures which rose 8-9 cents. The market has little to trade on before tomorrow’s USDA reports.   Cattle futures closed sharply lower after opening little changed.  Futures were pressured by slight weakness in mid-week cash trading.  Lean Hogs were pressured by weaker pork values and the sharp losses in cattle futures and by rising average hog weights that implies a backup in inventories.