Commentary
- Cotton Red at Midday
- Cotton prices are trading with 36 to 98 point losses through the AM portion of Friday. Cotton area was reported at 11.256m acres in NASS’s Prospective Plantings report. That is down from 13.76m last year, but 350k above the Feb projection. Traders were looking for 11 million flat going into...
- Mixed Midday in Hog Market
- Front month lean hog futures are trading mixed with the nearby contracts down by as much as 95 cents, but the deferred fall months up by as much as 40 cents. The National Average Base Hog price was 2 cents higher on Friday morning to $75.56. Thursday was 44 cents...
- Cattle Market Higher at Midday
- Live cattle futures are trading with 22 to 42 cent gains so far. Feeders are up by $0.95 to $1.32 at midday. USDA confirmed 50k head of cash cattle trade on Thursday, with prices from $165 to $172. The bulk of TX sales were $165 - $167, while the bulk...
- Wheat Spreading through Midday
- CBT SRW futures are trading in the red so far through midday, with 3 to 4 1/2 cent losses. KC wheat is working 3 to 4 cents higher, with spring wheat gaining as much as 7 cents. NASS survey data had 946.018 million bushels of wheat supplies on March 1st....
- Soybeans Double Digits Higher at Midday
- Favorable USDA data took the beans to new highs for the day after 11 AM central. Old crop prices are trading more than 20 cents in the black so far, with new crop 11 to 23 cents higher at midday. Meal prices are also in the black with $3.40 to...
- Old Crop Corn Holding Higher
- Old crop corn bounced out of the reports, but futures are back to 4-7 cents higher at midday. The new crop futures were trading higher into the release, but quickly fell on the acreage data. Dec is now 8 cents off its high and fractionally in the red. USDA confirmed...
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