Ag markets were mixed early Tuesday morning
The hog market seems to be trying to post a short-term bottom at this point. Futures had reached substantially oversold levels Monday, then tried to mount a comeback with mixed success. Surprising firmness at direct markets west of the Mississippi River and a firm afternoon reading for pork cutout offered some support for bullish positions. Whether bullish interests will prove able to sustain a significant rebound is open to question, as exemplified by the mixed nature of overnight trading. April hogs slipped 0.32 cents to 81.57 cents/pound in pre-dawn trading, while June edged 0.10 cents lower to 90.95.
Cotton futures fell in apparent reaction to weak manufacturing news out of China Monday morning. However, the drop was probably exaggerated by the large decline in U.S. equity markets later in the day. Thus, the overnight stock market bounce may have played a role in the concurrent rise posted by ICE cotton values. There was little news pertinent to the cotton market. May cotton rose 0.55 cents to 80.77 cents/pound early Tuesday morning, while December climbed 0.41 cents to 82.92.
- US soy exports to China could drop with crush-margins at 2-yr low
- Corn to see record production for 2014-15
- Maximizing buyer power in volatile markets
- Insight into drought tolerance of TAM wheat varieties
- Ag markets turned mostly lower Tuesday morning
- GMO safety, weed control top concerns as U.S. study kicks off
- U.S. GMO labeling foes triple spending in first half of this year
- Activists fighting Golden Rice even more in 2014
- Source shows half of GMO research is independent
- White House issues veto threat on bill to block WOTUS rule
- Stoller soybean research produces 214 bushels per acre
- Ag markets turned generally mixed Monday morning