Commentary
- Cotton On Both Sides into New Week
- Cotton prices are beginning the week with a mixed Monday morning. July cotton faded into Friday’s close and ended the session 37 points in the red. The other front months stayed higher, though the gains were limited to 27 points. July cotton futures were a net 270 points higher for...
- Hogs Rallied Strongly Last Week
- Hogs were triple digits higher again on Friday. The front months were up 1.6% to 3.8% on the day, leaving the June contract with a net $10.65 gain for the week. USDA’s National Average Base Hog price dropped $4.82 on Friday afternoon to $81.76. The 5/31 CME Lean Hog Index...
- Longs Pushed Cattle Market Last Week
- First Notice Day for June cattle begins the delivery period on Monday. June fat cattle futures added another $1.52 to the week’s move on Friday, settling with a net $9.07 gain for the week. That was the largest single week move for the lead month since April 2020’s $9.67 loss,...
- Monday Wheat Trading Higher so far
- Wheat futures are working fractionally to 4 cents higher to start the week. July SRW wheat saw a wide 20 cent range on Friday from -8 to +12 cents. At the close the board was 8 to 9 cents higher with July posting a net 3c gain for the week....
- Beans Fading Overnight Gains
- Soybeans are starting out Monday with prices mostly in the black. Overnight trade lifted the market to 10c gains, though current quotes are fractionally weaker to 2 1/2 cents higher. Meal futures were down $1.70 to $3.60 for the settle. July soymeal was down a net $4.40 for the week....
- Volatile Overnight Left Corn Mixed into Day Trade
- Corn gapped higher in some contracts on Sunday night before rallying 5-7 cents. Prices worked back to fill their gaps but only July did. AM quotes are mostly fractionally to a penny higher though July is still down 1 3/4 cents. Aided by double digit gains on Friday, July was...
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