Ag Market Commentary
Soybeans Falling Double Digits
Soybean futures are down by as much as 16 cents for the Leap Day finish to the month. Wednesday’s back and forth session saw soybean futures in the black. Gains were 2 ¾ to 5 ¼ cents across the front months, though May traded from -6 ¾ to +10 ¾...
Thursday Fading for Cotton Futures
The cotton market is off to a softer start on Thursday with contracts down 60 to 160 points in the AM. They pushed to the expanded 5 cent limit in the Wednesday session, but futures backed off for a mixed close. Old crop prices were up by 204 to 232...
Red AM for Corn Market
Corn is trading 2 to 4 cents weaker to begin Leap Day. The front month corn futures were near their highs for the close with a nickel gain for both the March and the May contracts on Wednesday. The new crop futures also closed higher on the day, though by...
Wheat Weakening on Feb’s Bonus Day
The wheat complex is starting 1 to 3 cents weaker so far for the last day of the month. Chicago futures were down by 6 ¼ to 15 cents on the day leaving the May contract at a net weekly 2 ½ cent loss. HRW futures settled the session with...
Hogs Closed Firm on Wednesday
Hog futures were in the black at the close, though by more than $1 under the day’s highs. Futures went home 7 to 35 cents higher across the front months. USDA’s National Average Base Hog price increased was $74.47 on Wednesday, up by $1.77. The CME Lean Hog Index was...
Feeder Cattle Led the Midweek Pullback
Front month feeder cattle futures were down by $2.72 to $3.85 with losses of as much as 1.5% on the day. Preliminary open interest was up just 263 contracts on Wednesday, suggesting a rotation of ownership, despite the large price move. The fats also faded by triple digits for a...

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