MarketsFarm — Surprising acreage estimates released by the U.S. Department of Agriculture last Friday could remain a major feature in soybean and corn markets for the foreseeable future, as traders contemplate a much smaller-than-expected soybean acreage base and larger-than-expected corn area. “You can’t close your eyes on these acreage numbers,” said Scott Capinegro of Barrington […] Read more
CBOT weekly outlook: Acreage at forefront in soy, corn markets
USDA estimates were bullish for soy, bearish for corn
U.S. grains: Wheat surges on slow harvesting, poor crop conditions
Corn hits 2-1/2-year low and ends mixed, soy mostly firm
Chicago | Reuters — U.S. wheat futures surged on Wednesday as slow winter wheat harvesting and deteriorating spring crop conditions fuelled buying and short covering that lifted prices from 2-1/2-week lows. The wheat rally pulled corn up from 2-1/2-year lows despite expanded plantings and recent rains that lessened concerns about drought-reduced yields. Soybeans firmed on […] Read more
U.S. grains: Soybeans rally on supply worries
Plantings weigh on corn; CBOT wheat also falls
Chicago | Reuters — Chicago Board of Trade (CBOT) soybean futures on Monday rallied for a second consecutive session, following a shockingly low plantings estimate from the U.S. Department of Agriculture (USDA) on Friday. Corn futures eased at the start of this holiday-shortened week, remaining at a 2-1/2 year low, on choppy technical trading, traders […] Read more
U.S. livestock: CME feeder cattle firm on choppy corn trade
Live cattle, lean hogs mixed
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures eased and feeder cattle futures ticked up on Monday, as corn prices faced a choppy trading day at the start of this holiday-shortened week, traders said. Meanwhile, the hog market ended the day mixed, with nearby contracts continuing to be bullish on growing buyer interest, […] Read more
U.S. grains: Soy soars after USDA slashes plantings estimate
CBOT corn dives, wheat follows; soyoil runs limit-up
Chicago | Reuters — U.S. soybean futures surged about six per cent on Friday after the U.S. Department of Agriculture (USDA) reported much lower-than-expected 2023 soy plantings and June 1 inventories, while corn futures tumbled on larger-than-expected acreage. Wheat futures fell in sympathy with corn, despite a smaller-than-expected quarterly wheat stocks figure. On the Chicago […] Read more
U.S. livestock: CME cattle up as corn prices slide
Chicago lean hog futures end mixed
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures set a three-week high on Friday, lifted by a surge in feeder cattle futures as corn prices tumbled, traders said. Tightening U.S. cattle supplies and a resilient beef market lent support, along with a strong close for the month and quarter on Wall Street that […] Read more
U.S. livestock: CME nearby hog futures up ahead of herd data
Cattle up on bullish fundamentals
Chicago | Reuters — Chicago Mercantile Exchange nearby lean hog futures ended higher on Thursday, as wholesale pork prices rose, cash hog prices firmed and traders awaited quarterly hog data from the U.S. Department of Agriculture (USDA). Benchmark August hogs settled up 1.225 cents at 92.325 cents/lb. after reaching 93 cents, right at the contract’s […] Read more
U.S. grains: Corn futures near three-week low
Soy mostly firm ahead of USDA reports; wheat follows corn lower
Chicago | Reuters — U.S. corn futures fell to their lowest in nearly three weeks on Thursday as rains bolstered production prospects in the Midwest and traders braced for key acreage and stocks data due Friday from the U.S. Department of Agriculture. Wheat followed corn lower, pressured by a stronger U.S. dollar, which tends to […] Read more
U.S. grains: Corn, soy tumble on forecasts for much-needed rains
CBOT September wheat also lower
Chicago | Reuters — U.S. corn futures fell more than four per cent and soybeans more than two per cent on Wednesday, pressured by forecasts for beneficial rains in the Midwest where crops have struggled with dry conditions, analysts said. Wheat also declined, pressured by the expanding U.S. winter wheat harvest and a larger-than-expected Canadian […] Read more
U.S. livestock: Live cattle climb on firm cash markets
Chicago lean hogs end mixed
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher for a second session on Wednesday, lifted by strength in the cash market tied to tightening U.S. cattle supplies, traders said, while tumbling corn prices lifted feeder cattle futures. CME August live cattle futures settled up 1.375 cents at 173.875 cents/lb. (all figures US$). […] Read more
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