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Market Updates

Market Closes - February 1, 2018
February 1, 2018
Market Closes - February 1, 2018

CBOT futures closed mostly steady except for the soy complex which posted losses as much as one percent.  Cattle futures closed sharply higher to as much as up the daily limit (LC=$3.00; FC=$4.50). Today’s rally resulted from yesterday’s friendly Cattle inventory report which had a smaller herd increase than expected.

Market Closes - January 29, 2018
January 29, 2018
Market Closes - January 29, 2018

CBOT futures closed higher with corn and wheat ending near the day’s highs and prices reaching new highs for the current January rally.  Cattle futures closed higher but well off the day’s highs. Futures opened sharply higher as result of last Friday’s big jump in cash prices to $126-127.  

Market Closes - January 24, 2018
January 24, 2018
Market Closes - January 24, 2018

CBOT futures closed strongly higher with KC/Chicago Wheat leading the way up. Today’s big gains resulted from today’s sharp drop in the value of the US Dollar.   LC futures were supported by positive follow-through following strong gains Monday and Tuesday.

Market Closes - January 23, 2018
January 23, 2018
Market Closes - January 23, 2018

CBOT futures closed mixed. Soybean futures recovered from an early morning sharp decline to close higher for the seventh straight trading day.  Cattle futures closed higher as the market continued to be supported by the inclement weather and ideas the cash market will firm this week.

Market Closes - January 22, 2018
January 22, 2018
Market Closes - January 22, 2018

Soybean and soybean meal futures have closed higher for 6 straight trading days. The soybean rally is due to the strength in soybean meal.  Live cattle futures closed moderately higher, supported by a surge in cash cattle prices on Friday afternoon to a reported $123/cwt.  Lean Hog futures closed slightly lower but at/near the day’s lows. 

Market Closes - January 17, 2018
January 17, 2018
Market Closes - January 17, 2018

The CBOT closed mixed again today but corn was the upside leader followed by KC/Chicago wheat futures.  Soybean and soybean meal futures dropped sharply after the markets opened at 830 am CT, but climbed back to close steady.  Cattle futures closed sharply higher as traders develop a more-friendly attitude.

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.