Ag Market Commentary
- Cattle Falling as the Beef Pressure Continues
- Live cattle futures are down $2.30 to 2.80 across the front months at midday. Cash trade has yet to get kicked off this week. A few Southern bids are being reported at $23 so far on Wednesday. This morning’s Fed Cattle Exchange online auction from Central Stockyards saw no sales...
- Cotton Giving Back Tuesday Gains on Wednesday
- Cotton futures are falling lower at Wednesday’s midday, as contracts are down 35 to 40 points at midday. The US dollar index is up $0.097 so far on the day to $96.345, with crude oil futures $0.23 lower. The Seam reported 909 bales sold on Tuesday at an average price...
- Hogs Mixed at Wednesday’s Midday
- Lean hog futures are posting mixed action on Wednesday, with contracts up 15 cents to 45 cents lower. USDA’s national base hog report from Wednesday morning was reported at $106.25, up 28 cents from the day prior. The CME Lean Hog Index was down 14 cents on September 15 at...
- Corn Pulling Back on Wednesday
- Corn futures are slipping back lower on Wednesday’s midday, as contracts are down 2 to 3 ¼ cents in the nearbys. The CmdtyView national average Cash Corn price is down 3 1/4 cents at $3.82 ¾. The weekly EIA report showed ethanol production dropping 50,000 barrels per day in the...
- Soybeans Posting Midweek Weakness
- Soybeans are trading with 5 to 6 ¼ cent losses at Wednesday’s midday. The cmdtyView national average Cash Bean price is down 5 1/4 cents at $9.67 1/4. Soymeal futures are down 80 cents to 20 cents higher so far at midday. Soy Oil futures are giving back the Tuesday...
- Wheat Falling Back Weaker on Wednesday
- The wheat complex is giving back some of the Tuesday gains, with contracts lower across the three markets. CBT soft red wheat futures are trading with 5 to 6 ¼ cent losses at midday. KC HRW futures are falling back 6 to 7 cents at midday. MPLS spring wheat futures...
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