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Market Updates

Market Closes - January 16, 2018
January 16, 2018
Market Closes - January 16, 2018

CBOT futures closed mixed with soybean meal leading the way higher. Soybeans and meal gapped higher Sunday evening at the open in follow-through buying after futures posted bullish key reversals on Friday.   Lean Hog futures closed strongly higher.  

Market Closes - January 11, 2018
January 11, 2018
Market Closes - January 11, 2018

Another day of mixed closes with little change in corn prices and lower prices for soybeans.  Soybeans have posted lower closes for 4 straight days.  Live cattle futures closed near unchanged.  February LC’s discount to this week’s cash $120 market discouraged selling, but weaker boxed beef limited the gains.  Lean Hog futures closed sharply lower due in part to yesterday’s bearish price reversal.

Market Closes - January 10, 2018
January 10, 2018
Market Closes - January 10, 2018

At the close, CBOT futures followed yesterday’s pattern with soybeans losing ground, while wheat jumped higher. The fundamentals are basically stable – huge supplies, weak exports, and a big soybean crop expected in South America. Cattle futures closed moderately lower and near the day’s lows.  Lean Hog futures closed mixed with the nearby contracts moving lower.

Market Closes - January 9, 2018
January 9, 2018
Market Closes - January 9, 2018

CBOT futures closed narrowly mixed as corn and soybeans trade within reach of recent lows.  Corn closed a little higher on short-covering after the market charted a double-bottom yesterday.  Cattle futures closed slightly higher after testing the yesterday’s lows. Futures’ discount to recent cash prices encouraged the buying, as did stronger beef cutouts at midday. 

Market Closes - January 8, 2018
January 8, 2018
Market Closes - January 8, 2018

CBOT futures closed lower with corn finishing at the day’s lows, while soybeans rallied 6-7 cents off the lows set before 9:30 am CT. Futures were pressured by favorable South American weather, poor export shipments, and fund selling.  Live Cattle futures closed moderately to sharply lower in follow-through selling to Friday’s sharp losses.  Lean Hog futures closed higher with the best gain coming in the February LH contract.

Market Closes - December 21, 2017
December 21, 2017
Market Closes - December 21, 2017

Price action continued the pattern seen Tuesday and Wednesday – soybeans dropping and corn/wheat rising. Market factors remain the same – beneficial South American weather as well as unfavorable weather and soil moisture in the Plains.  Cattle futures closed slightly higher, correcting part of yesterday’s losses. 

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.