Commentary
Cotton Drop on Thursday
Cotton futures closed out Thursday with losses of 14 to 32 points across most contracts, as thinly traded October was the lone exception, up 25 points. The US dollar index was back up 467 points, after a 4 month low on the continuation charts. Crude oil was down 35 cents...
Wheat Closes Mixed Across the Three Classes
Wheat futures were mixed on Thursday, with the winter wheat exchanges providing the weakness and spring wheat with the strength. Chicago futures were down 2 ¾ to 4 cents across the board. MPLS spring wheat led the way higher, up 3 ¼ to 8 ¾ cents. Kansas City contracts were...
Hogs Mixed at Thursday’s Close
Lean hogs were mixed on Thursday with contracts anywhere within 35 cents of unchanged at the close. The USDA National Base Hog price was reported at $85.39 on Thursday afternoon, up 31 cents from the day prior. The CME Lean Hog Index was $88.80 on July 16, up 18 cents...
Corn Bulls Trip Up on Thursday
Corn futures closed out the Thursday session with contracts down 2 to 6 ¾ cents, as uneventful export data failed to give the market a boost. This morning’s Export Sales report showed 437,840 MT of corn sold for old crop shipment in the week of July 11. That was below...
Soybeans Pull Out Gains, Helped by Export Business
Soybeans pulled off intraday weakness on Thursday, as most nearby contracts were nearly a dime off the lows to close with fractional to 2 ¾ cent gains. Soymeal futures rounded out the Thursday session with contracts steady to $1.90/ton lower. Soy Oil settled with the strength among the products, as...
Cattle Collapse on Thursday, with CoF Data out on Friday
Live cattle futures fell $1.52 to $2.55 on Thursday, as traders were busy positioning themselves ahead of Friday’s CoF report. Some southern cattle traded at $187 to $188.50 this week. Northern trade has yet to be widely established, with some sales of $310 in the beef and live bids of...



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