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Market Updates

Market Closes - October 27, 2016
October 27, 2016
Market Closes - October 27, 2016

CBOT futures closed higher except for soybean oil which has been pressured on spread unwinding with soybean meal. Beside the near 7 percent gain in OAT futures, meal was the percentage leader today.   Cattle futures closed mixed with the nearby October LC contract closing the highest with traders optimistic for this week’s cash trade to finish around $104/cwt.   Lean Hog futures closed strongly higher and near the day’s highs.

Market Closes - October 26, 2016
October 26, 2016
Market Closes - October 26, 2016

CBOT futures closed strongly higher led by the soybean meal and soybean markets. November Soybeans broke above $10.00, creating additional buying into the closing bell.  Cattle futures closed moderately higher after trading both sides of unchanged. Lean Hog futures closed lower after testing clearly-defined resistance levels on the charts.

Market Closes - October 25, 2016
October 25, 2016
Market Closes - October 25, 2016

CBOT futures closed little changed after trading both sides.  Corn and soybean futures had many contracts posting “inside days” as price ranges were smaller than Monday’s.  Cattle futures moved higher in the morning in follow-through buying from Monday’s market. However about Noon CT, profit-taking kicked in and turned the screens from green to red.

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.