Newsroom

Market Updates

Market Closes - February 7, 2017
February 7, 2017
Market Closes - February 7, 2017

CBOT futures traded wide ranges today but closed strongly near the day’s highs.  Prices were supported by export demand for corn and soybeans and technical buying ahead of Thursday’s WASDE report. Cattle futures closed moderately higher with the nearby February LC contract performing the best. Following through on Monday’s strong market, Lean Hog futures gapped higher at the open and closed strongly higher on buying encouraged by a higher midday pork market and technical buying. 

Market Closes - February 6, 2017
February 6, 2017
Market Closes - February 6, 2017

CBOT futures closed mixed with corn and wheat futures closing near the day’s lows on late-day weakness. Soybean futures were supported by wet conditions in Argentina, strong soybean export inspections and China returning from holiday.  Cattle futures closed little changed on a lack of market news in cash cattle markets and from a relatively stable boxed beef market.  Lean Hog futures closed moderately higher on strength in cash hog prices and the pork cutout.

Market Closes - February 3, 2017
February 3, 2017
Market Closes - February 3, 2017

CBOT futures closed mostly lower with the largest loss in soybean oil. With soybean harvest advancing in South America and large crops expected, buying interest was reduced going into the 3-day weekend – Presidents Day on Monday. Cattle futures traded narrowly mixed with a weaker boxed beef market. Choice beef closed down 1.61 at 191.40 and Select lost .69 to 189.93.   

Market Closes - February 2, 2017
February 2, 2017
Market Closes - February 2, 2017

CBOT futures closed mostly little changed, but new-crop soybeans rallied into the closing “bell”. The morning Export Sales report was generally positive.  Cattle futures closed higher, finally interrupting the recent downtrend. However, futures remain below the very important chart gaps created Monday following Friday’s bearish Cattle on Feed Report.

Market Closes - February 1, 2017
February 1, 2017
Market Closes - February 1, 2017

After several days of weaker prices, CBOT futures rose strongly today, beginning after the 830 am CT open. Wheat and Corn futures outperformed soybeans. Overnight futures weakness with no follow-through selling combined with positive export news encouraged buying that was amplified by technical buying as prices rose.  Cattle futures traded both sides of unchanged with some trading ranges exceeding $2.00/cwt.  Lean Hog futures closed narrowly mixed. February LH were supported by higher cash hog prices, but the pork cutout was weaker.

Market Closes - January 31, 2017
January 31, 2017
Market Closes - January 31, 2017

CBOT futures closed mixed with corn and soybeans trading narrow ranges.  Today’s weaker US Dollar was the main supportive factor for commodities today. Cattle futures closed lower on follow-through selling from Monday’s gap-down price action and sharp losses. Selling was encouraged by weaker boxed beef values and concerns that cash cattle have peaked.  Lean Hog futures closed higher with the February LH contract up sharply on stronger cash hog prices and pork values.

Market Closes - January 30, 2017
January 30, 2017
Market Closes - January 30, 2017

The price board is very red tonight as most commodity prices closed lower with some sharply lower. Soy complex futures led the CBOT lower as the spec funds were reportedly huge sellers.  Cattle futures fell sharply in response to Friday afternoon’s bearish Cattle on Feed Report. It showed December Placements up a whopping 17.6% compared to a 8.8% expectation.

Market Closes - January 26, 2017
January 26, 2017
Market Closes - January 26, 2017

Except for wheat contracts, CBOT futures closed lower today with pressure stemming from a stronger US Dollar and a lack of bullish fundamentals. Soybean futures have closed lower 5 of the last 6 days, with March Soybeans 30 cents lower than the January 18th HIGH.  Cattle futures closed sharply lower, especially in Feeder Cattle, as traders reduced positions ahead of Friday’s Cattle on Feed Report and next week’s Cattle report which reports the annual inventory.

Market Closes - January 24, 2017
January 24, 2017
Market Closes - January 24, 2017

CBOT futures closed mixed with soybean futures again outperforming corn and wheat which both ended down 5-6 cents. March Corn traded overnight to new 6-month highs above the key chart resistance I listed yesterday; however, that upside breakout failed terribly and futures closed sharply lower with a bearish outside-down day on the chart. Cattle futures rallied at the opening bell in follow-through buying from Monday’s higher closes, but fell sharply in the 11:00 am CT hour.

Market Closes - January 23, 2017
January 23, 2017
Market Closes - January 23, 2017

The US Dollar is weaker today and that was generally supportive of U.S. commodities, equities and Treasuries. However, soybean and meal futures were pressured by drier weather in Argentina and the approaching ramp up of harvest in South America.   Cattle futures traded very narrow price ranges today as traders wait for more direction from the cash markets.