Ag Market Commentary
- Hogs Showing Marginal Midday Gains
- Lean hog futures are trading with 15 to 35 cent gains so far on Tuesday. The national average base hog negotiated price was reported at $86.57 on Tuesday morning. The CME Lean Hog Index was reported at $84.36 on November 29, down another 85 cents from the previous day. The...
- Soybeans Holding Turnaround Tuesday Gains at Midday
- Soybeans are backing off the early Tuesday highs, but still posting midday gains of 2 to 5 cents. CmdtyView’s national front month Cash Bean price is up 5 ½ cents at $9.42 3/4. Soymeal futures is trying to hold gains, with March up $1/ton. There were another 43 deliveries issued...
- Cotton Back to Higher Midday Trade
- Cotton futures are pushing higher on Tuesday, with contracts up 11 to 15 points. The outside markets are supportive factors at midday, with the US dollar index down 158 points and crude oil up $2/barrel. USDA’s monthly Cotton Systems report showed 180 RB of domestic cotton consumed during October. Stocks...
- Corn Leaking Lower at Midday
- The corn market is slipping with fractional losses at Tuesday’s midday, with futures fading off the early session lows. There were 111 deliveries against December corn futures overnight, all by an R.J.O customer. The national average Cash Corn price from cmdtyView is down ¼ cent at $4.04 1/4. USDA’s Grain...
- Cattle Reverting Back Higher on Tuesday
- Live cattle futures are trading through Tuesday’s midday with gains of $1 to $1.45. Cash trade was reported last week with $188-190 sales in the South and $190-192 in the North. Early action this week has been mostly compiling showlists. Feeder cattle are up $2.25 to $3.45 across the nearbys...
- Wheat Backing off Highs at Midday
- The wheat complex is backing off the early strength on Tuesday, with the three markets holding slight gains at midday. Chicago SRW futures are up fractionally in the nearbys, with thin Dec up 7 ¼. KC HRW contracts are up 1 to 2 cents, with Dec up 3 on thinner...
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