Corn, soybeans trading lower at midday

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

Corn prices are trading 5 cents lower at midday. Corn futures are extending their losses into midday. Non commercial liquidation and disappointed export data are weighing on the market prices. Other factors adversely affecting the market are the rapid advancement of the 2012/13 corn harvest and the higher dollar index.

Soybean prices are trading 18 to 19 cents lower at midday. Soybean futures remain on the defensive as the higher dollar index and long liquidation stifle any upside movement in the market. Expectations for higher soybean yields coming off of a devastating drought and lack of fresh news are bearish for prices as well. Today’s export sales were within trade estimates, but provided minimal support to the market. Soybean oil and soybean meal are trading lower at midday.

Wheat futures are trading higher at midday. Wheat futures are leading the grain complex at midday, bucking pressure from the higher dollar index and declining prices in the other grain markets. Weekly export sales were neutral, falling within trade expectations, but midday price support can be attributed to technical buying and not weekly exports. CBOT is up 8 cents, KCBT is up 9 cents and MGE is up 7 cents.

Live cattle are trading lower at midday. Disappointing weekly beef exports and cash market uncertainty are placing downward pressure on live cattle contracts. USDA reported weekly exports sales 35 percent lower than the previous week at 10,900 tonnes. Concerning the cash market, traders remain encouraged that cash prices will be higher again this week, but the cash trade has yet to develop causing traders to move more cautiously.

Lean hog futures are trading mostly lower this morning. Spillover pressure from the cattle market and steadily declining pork carcass value are limiting midday market gains. However cash prices are expected to continue to encourage renewed buying interest in the hog complex.Traders are confident that the market is set for a rebound in prices.


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


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