Ag markets moved mostly higher Monday morning

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

The crop markets started the week strongly. Although the weather remains conducive to huge fall crops, crop futures bounced in Sunday night/Monday morning action. That seemingly reflected ideas that recent losses were overdone. The weekly Export Inspections report also indicated a strong corn sales total, which apparently offered additional support. September corn bounced 3.0 cents to $3.555/bushel by late Monday morning, while December gained 3.5 cents to $3.6575.

Soybeans are leading the crop markets higher. Forthcoming weather will be key to the size of the fall soybean crop, so traders seemingly bought rather aggressively to start the week in seeming response to suspicions that forecast showers won’t be as widespread as many thought last week. The surprisingly poor result on the Export Inspections report may slow that buying. September soybean futures rebounded 14.5 cents to $10.88/bushel around midsession Monday, while November futures rallied 14.25 cents to $10.7275. September advanced 0.44 cents to 35.98 cents/pound and September soymeal added $3.8 to $359.6/ton.

Talk of international problems is boosting the wheat markets. Current U.S. wheat conditions are quite favorable, but those of several other countries, particularly France, Germany and Canada are suffering from excessive moisture. The implied tightening of the glutted global situation seemed to spark much improved buying at the U.S. markets. September CBOT wheat surged 12.75 cents to $5.47/bushel shortly before midday Monday, and September KC wheat climbed 10.5 cents to $6.4325/bushel, while September MWE wheat moved up 8.75 to $6.2475.

Cattle futures started the week on a mixed note. Despite bullish factors and wholesale strength, cattle prices across the West and in Chicago declined late last week. The expiring August contract is leading the nearby contracts higher in a seeming effort to tighten the basis, but deferred futures remain under pressure. October live cattle rose 0.37 cents to 156.37 cents/pound just before lunchtime Monday, while December edged up 0.17 cents to 156.60. Meanwhile, September feeder futures leapt 1.02 cents to 221.30 cents/pound, and November feeders surged 0.67 cents to 220.27.

Hog futures moved mostly higher Monday morning. Hog futures have recently suffered badly from bearish seasonal expectations. Cash and wholesale quotes have encouraged that pessimism. However, futures firmed late last week, which seemingly reflected suspicions that recent losses in deferred futures were overdone. Only the expiring August future traded lower this morning. October hog futures soared 1.27 cents to 104.10 cents/pound in late Monday morning trading, while December rallied 1.55 cents to 95.95.


Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Demco 1400 Grain Cart

Demco offers a 1400 bushel grain cart to provide unmatched efficiency and operator convenience. In addition to the large 1400 ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form