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Alan Brugler
Soybeans Posting Slight Midday Strength
BarchartWed May 1, 12:01PM CDT
Soybeans are showing 1 to 3 cent gains so far on Wednesday, with May up 9 ¼ cents. May soybean deliveries slowed to 263 contracts. Soymeal is trading $3.30 to $4.30 lower at midday. There were 152 delivery notices against May soybean meal overnight. Soy Oil is putting together a...
Cotton Continue Weakness on Wednesday
BarchartWed May 1, 12:01PM CDT
Cotton futures are down 128 to 210 points across most contracts at midday. Crude Oil was is feeling the pressure, down below $80 per barrel at midday, down $2.65. The US dollar index is up 40 points on the day. The Fed will be out later this afternoon after their...
Hogs Head Lower on Wednesday
BarchartWed May 1, 12:01PM CDT
Lean hogs are down $1.10 to $2.07 on the Wednesday session so far. USDA’s National Average Base Hog negotiated price was up 34 cents from the day prior in the Wednesday morning report at $91.06. The CME Lean Hog Index was down 26 cents on April 29 at $90.26. USDA’s...
Wheat Lower on the Midweek Session
BarchartWed May 1, 12:01PM CDT
The wheat market is trading lower on Wednesday. Kansas City is leading the way with losses of 6 to 8 cents cents and in delivery May down 1 ¾. Chicago contracts are down 4 to 6 cents across the nearbys. MPLS spring wheat is steady to 2 ½ cents lower...
Corn Pulling Higher at Midday
BarchartWed May 1, 12:01PM CDT
Corn futures are trading 1 to 2 ½ cents higher so far at midday. There were 3 delivery notices overnight against May futures. The oldest long is dated 10/27/23, when May futures were trading $5.00-5.05. They’re either “pure” hedgers with a big paper loss or they had options positions cushioning...
Cattle Fading Early Session Recovery with Midday Losses
BarchartWed May 1, 12:01PM CDT
Live cattle are in freefall again on Wednesday after holding up earlier in the session. Contracts are down $1.67 to $2.95 at midday. Cash trade has yet to develop this week. The Central Stockyards online Fed Cattle Exchange auction saw no sales on the 998 head offered, with no bids...
Wheat Mixed on Wednesday Morning
BarchartWed May 1, 7:32AM CDT
Following overnight losses, the wheat market is down 2 to 7 cents across most hard red contracts, as Chicago is fractionally mixed. Bulls stumbled into month end on Tuesday. Kansas City led the way with losses of 6 to 15 ¼ cents and in delivery May down 21. Chicago contracts...
Hogs Switch Focus to Wednesday After Mixed Tuesday
BarchartWed May 1, 7:32AM CDT
Lean hogs closed out the Tuesday session with contracts anywhere from 45 cents lower to 62 cents higher as the summer months finished the weakest. USDA’s National Average Base Hog negotiated price was up $2.40 from the day prior on Tuesday afternoon at $92.03. The CME Lean Hog Index was...
Cattle Look for Recovery on Wednesday
BarchartWed May 1, 7:32AM CDT
Live cattle closed out the Tuesday session with contracts fading another $2.17 to $2.72 as April rolled off the board. Cash trade has yet to develop this week, with last week $182-183 in the South, steady to $1 higher. Northern trade was reported at $184-186, steady to $2 higher on...
Cotton Continue Slide on Wednesday
BarchartWed May 1, 7:32AM CDT
Cotton futures are down to 60 points as we roll into Wednesday and the monthly USDA Cotton Consumption report. Cotton futures collapsed on Tuesday, with contracts down 128 to 309 points across the front months and deferreds 31 to 79 points lower. July hit the lowest reading since last June....
Corn Leaking Lower to Being Midweek Session
BarchartWed May 1, 7:32AM CDT
Overnight trade in the corn market has futures down ½ to 1 ¼ cents. Corn futures closed out the Tuesday session with most contracts fractionally to 3 ¼ cents lower and May up ¼ cent. There were 3 delivery notices overnight against May futures. The oldest long is dated 10/27/23,...
Beans Continue Retreat into Early Wednesday Morning
BarchartWed May 1, 7:32AM CDT
Soybeans are trading 1 to 2 ½ cents lower following the overnight trade. They posted double digit losses on Tuesday, with contracts down 15 ¼ to 19 ¾ cents across the board. Soymeal was down $1.80 to $3/ton at the close. Soy Oil was in freefall mode, down another 69...
Wheat Falls into Month End
BarchartTue Apr 30, 4:59PM CDT
The wheat market fell flat into month end on Tuesday. Kansas City led the way with losses of 6 to 15 ¼ cents and in delivery May down 21. Chicago contracts were down 3 to 7 ¼ cents across the nearbys and up 1 ¼ to 3 ¼ cents in...
Hogs Mixed Around at the Tuesday Close
BarchartTue Apr 30, 4:59PM CDT
Lean hogs closed out the Tuesday session with contracts anywhere from 45 cents lower to 62 cents and the summer months the weakest. USDA’s National Average Base Hog negotiated price was up $2.40 from the day prior on Tuesday afternoon at $92.03. The CME Lean Hog Index was back down...
Corn Closes Lower Ahead of SAF Announcement
BarchartTue Apr 30, 4:59PM CDT
Corn futures closed out the Tuesday session with most contracts fractionally to 3 ¼ cents lower and May up ¼ cent. On Tuesday, the Biden administration released its guidance on SAF feedstock, allowing corn based ethanol to qualify only if producers use practices such as no-till, cover cropping, and efficient...
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