Afternoon Comments 09/19


Corn: Dollar strength and harvest prospects depressed the crop markets. Weakness spilling over from the wheat and bean markets, as well as U.S. dollar values at 4.5-year highs, is probably exaggerating ongoing losses in corn futures, despite an early announcement of a big sale to Mexico. December corn futures closed 6.75 cents lower at $3.34/bushel Friday, while May sagged 6.25 to $3.53.

                                    Cash Prices       
                             Sep 18  
Central Illinois             3.07    
Omaha, NE                    3.28
                                

Soybeans: The soy complex also felt the pressure Friday. The USDA announced another big bean sale to China Friday morning, but that did little to halt the ongoing slide. Anticipation of a bin-busting harvest, grain weakness and U.S. dollar strength combined to undercut prices once again. November soybean futures fell 14.5 cents to $9.57/bushel in late Friday action, while October soyoil skidded 0.26 cents to 32.46 cents/pound, and October soymeal slumped $4.7 to $324.1/ton.

                                    Cash Prices       
                             Sep 18  
Central Ill.                 10.81   
Memphis, TN                  9.99
                                

Wheat: Wheat prices fell once again. Thursday’s export news was quite disappointing for wheat bulls, since it confirmed the noncompetitive nature of current U.S. quotes on the global market. U.S. dollar values at 4.5-year highs are discouraged traders as well. December CBOT wheat dropped 14.0 cents to $4.745/bushel at Friday’s settlement, while December KC wheat tumbled 9.5 cents to $5.6025/bushel, and December MWE wheat dove 14.75 to $5.355.

                                    Cash Prices       
                             Sep 18  
K.C. - HRW                   5.44    
STL - SRW                    3.93    
Mnpls. 14%                   7.70    
NE MT - durum                11.00
                                

Cattle: Cattle futures posted a mixed close Friday. Cattle futures fluctuated widely this week as traders tried to get a handle on the short-term cash outlook. The likely result of this week’s country trading was still unclear at Friday’s close, which partially explains the mixed CME close. October live cattle futures inched up 0.02 cents to 155.62 cents/pound in late Friday trading, while December futures lost 0.22 to 158.70. Meanwhile, October feeder futures jumped 1.02 cents to 228.72 cents/pound, and January feeders surged 0.97 to 220.67.

                                    Cash Prices       
                             Sep 18  
700-800 Steers (OK City)     231.19  
500-550 Steers (OK City)     263.57  
Fed Steers - Neb             --      
Cutout Values                        
Choice                       244.88  
Select                       232.09
                                

Hogs: Big pork gains powered Friday’s hog gains. The cash hog and wholesale pork markets sent mixed signals earlier this week, thereby triggering sizeable CME losses at midweek. However, late-week pork reports indicated huge gains in pork cutout values, thereby triggering the subsequent rebound. October hogs spiked 3.00 cents to 105.97 cents/pound as CME trading ended Friday, while December leapt 1.05 to 94.85.

                                    Cash Prices       
                             Sep 18  
National Avg. Carcass        102.82  
Sioux Fall Pigs (50-60lbs)   79.95
                                


For More detailed information subscribe to Doane. Click here for a 30 day free trial.

1325 Bushel Grain Cart

Equipped with a 22” computer balanced auger with 5/16” flighting,the unloading speed is 50% faster than smaller grain carts with ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form