Alan Brugler
Wheat Held Higher on Thursday
BarchartThu May 9, 4:50PM CDT
The wheat complex saw the bulls holding up on Thursday. Chicago contracts were up ¾ to 3 ¾ cents on the day. Kansas City futures closed with gains of 3 to 3 ¾ cents across most contracts. MPLS spring wheat futures were steady to 8 ½ cents higher across the...
Cattle Feeling Anemic with Beef Slipping Lower
BarchartThu May 9, 4:50PM CDT
Live cattle felt weaker on Thursday, as contracts were down 45 to 90 cents across the board on the day. Cash trade has been slow to develop this week, with the Central Stockyards Fed Cattle Exchange selling 374 of the 1,890 head for an average of $185. Feeders ended the...
Soybeans Drops into Thursday Close
BarchartThu May 9, 4:50PM CDT
Soybeans headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts held up at or above $12. Soymeal futures were down on the day, as contracts fell $1.70 to 6.80/ton. Soy Oil saw triple digit losses in the front months, with...
Hogs Pressured Lower on Thursday
BarchartThu May 9, 4:50PM CDT
Lean hogs fell 55 cents to $1.40 across the board on Thursday. USDA’s National Average Base Hog negotiated price was down $2.44 in the Thursday afternoon report at $89.35. The CME Lean Hog Index was up 25 cents on May 7 at $91.28. Pork export sales were tallied at 24,410...
Corn Squares Up Ahead of USDA Report
BarchartThu May 9, 4:50PM CDT
Corn futures closed out the Pre-WASDE trade session with contracts down 1 to 2 ¾ cents across most contracts. A few deferreds were steady to 1 ¼ cents higher. USDA issued a flash sale of 132,080 MT of corn sold to Mexico this morning, with 60,960 MT for the current...
Cotton Pushes Lower Despite Solid Export Sales Data
BarchartThu May 9, 4:50PM CDT
The cotton market continued their slide on Thursday, as were down 93 to 168 points on Thursday. That was despite a round of positive export data for the bulls. Cotton limits are back to 3 cents with July slipping back in the 70 cent level. The outside market influences were...
Soybeans Threating to Pull Back Below $12
BarchartThu May 9, 11:58AM CDT
Soybeans are struggling on Thursday, as contracts are down 10 to 17 cents at midday, and November threating the slip below $12. Soymeal futures are down $3.90 to $4.10/ton. Soy Oil is also falling at midday, with triple digit losses of 121 points on Thursday. The dam has broken on...
Hogs Soft on Thursday
BarchartThu May 9, 11:58AM CDT
Lean hogs are posting midday weakness on Thursday, as contracts are down 52 to 92 cents. USDA’s National Average Base Hog negotiated price was down $3.62 in the Thursday morning report at $88.96. The CME Lean Hog Index was up 25 cents on May 7 at $91.28. Pork export sales...
Cotton Heading Lower Despite Positive Export Sales Data
BarchartThu May 9, 11:58AM CDT
The cotton market continued to slide, as midday action had futures down 82 to 116 points on Thursday. That is despite a round of positive export data for the bulls. The outside market influences are helpful but ignored, as the US dollar index is down 236 points, with crude oil...
Wheat Pulling Away From Highs, Still Holding Midday Gains
BarchartThu May 9, 11:58AM CDT
The wheat complex has pulled back from the double digit strength we was earlier in the session but is still higher at midday. Chicago contracts are up 2 to 6 cents so far on the day. Kansas City futures are up 6 to 7 cents at midday. MPLS spring wheat...
Cattle Feeling Weakness Again on Thursday
BarchartThu May 9, 11:58AM CDT
Live cattle are slipping lower at midday, with contracts mostly a tik to 52 cents lower. Cash trade has been slow to develop this week, with the Central Stockyards Fed Cattle Exchange selling 374 of the 1,890 head for an average of $185. Feeders are trading with midday losses of...
Corn Continues Weakness at Midday
BarchartThu May 9, 11:58AM CDT
Corn is continuing the corrective action on Thursday, as contracts are down fractionally to 3 ents across the front months at midday. There were 364 contracts issued vs. May corn delivery overnight, with ADM stopping all of them for the house account. USDA issued a flash sale of 132,080 MT...
Cattle Focus on Thursday Following Weaker Boxed Beef Prices
BarchartThu May 9, 7:31AM CDT
Live cattle closed the Wednesday session with contracts down 95 cents to $1.57 across the CME. Cash trade has yet to develop this week, with the Central Stockyards Fed Cattle Exchange having no sales on the 1,890 head listed. Bids were running $184, with $185-186 asks. Feeders were weaker on...
Cotton Slip Back Lower Ahead of Export Sales Release
BarchartThu May 9, 7:31AM CDT
The cotton market is trading down 93 to 141 Futures shot higher on Wednesday, closing 106 to 256 points higher as May rolled off the board. Cotton daily limits are expanding back to 4 cents (400 pts) due to July creeping back into that 80 cent level. The US dollar...
Soybeans Down To Start Thursday
BarchartThu May 9, 7:31AM CDT
Soybeans are posting lower trade on Thursday morning with contracts down 3 to 5 cents. Bulls took a breather on Wednesday, as contracts were down 9 ¼ to 19 ½ cents across the board. Soymeal also pulled back with contracts down $1.80 to $5.50/ton on the day. Soy Oil posted...