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Market Commentary
Hogs Slipping Lower into Midday
Lean hogs are back to lower trade on Wednesday, despite showing gains early in the day. Contracts are down a tick to 30 cents in most contracts, with June up 7. USDA’s National Average Base Hog negotiated price was at $87.64 in the Wednesday morning report. The CME Lean Hog...
Cotton Pulling Back Following Solid Crop Ratings
Cotton prices are down 106 to 187 points at Wednesday’s midday. Outside factors are a negative influence, with crude oil down 55 cents/barrel and the US dollar index up 421 points. The weekly Crop Progress report showed 59% of the cotton crop planted as of Sunday, 2% ahead of average....
Soybeans Beans Heading Lower on Wednesday
Soybeans are trading 13 to 15 cents lower across the nearbys on Wednesday, feeling another round of pressure from meal and faster planting pace. Soymeal is down another $7.30 to $7.40/ton in the front months. Soy Oil is showing gains of 30 points in the July contracts at midday. Crop...
Cattle Fading Lower on Wednesday
Live cattle are down 85 cents to $1.50 on Wednesday as we get ready to round out month end later this week. Cash trade last week saw action at $187 in the south, with trade in the north mainly at $192, with some coming in at $193.50. The Central Stockyards...
Corn Falling at Midday
Corn are posting sharp losses on Wednesday, with midday losses of 6 to 7 cents across most of the front months. The Tuesday afternoon Crop Progress report showed the US corn crop at 83% planted as of Sunday, now 1% above the average pace. Iowa is the only of the...
Wheat Turning Back Lower on Wednesday
The wheat complex is trading with double digit midday losses on Wednesday. Chicago contracts are down 10 to 12 cents in the front months. Midday losses in the Kansas City exchange are 13 to 16 cents. MPLS futures are 13 to 15 cents lower on the session. The NASS Crop...

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