Crop and livestock markets lower at midsession

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

Corn futures are trading strongly lower at midday. Fund long liquidation continues to weigh on futures amid concern about the global economy. July futures have broken below some technical support, which has added to the selling pressure. Weather forecasts for the next couple of weeks do not show any high pressure ridge becoming entrenched over the Corn Belt. July is 18 cents lower at $6.52 and December is 11 cents lower at $6.21.

Soybean futures are lower at midsession. Spillover weakness from corn and fund selling are weighing on soybean futures. However, losses are being limited by reports of export sales of old-crop soybeans to China. Weather forecasts remain non-threatening for the crop. USDA will update crop condition ratings this afternoon and ratings are expected to be near week-ago levels. July is 9 1/4 cents lower at $13.11 and November is 12 cents lower at $12.96 1/4.

Wheat futures are sharply lower at midday. Continued fund long liquidation, seasonal harvest pressure and concern about the global economy are weighing on the market. Report last week that Russia had sold some wheat at a discounted rate was bearish as it undercut U.S. Prices. Winter wheat harvest is running at a strong pace and some HRW yields are better than expected. CBOT July is 19 3/4 cents lower at $6.16, KCBT July is 15 3/4 cents lower at $7.32 3/4 and MGE July is 21 1/2 cents lower at $8.04 1/2.    

Cattle futures are trading strongly lower at midsession. Profit-taking and a broad based commodity sell-off are pressuring prices after reach the highest level in nearly two months on Friday. Wholesale beef sales are expected to slow this week as purchases for the July Fourth weekend are already complete. Cash trade was $3-$4 higher last week at mostly $112, but tightened packer margins could limit cash bids this week. June is $1.00 lower at $112.05 and August is $1.65 lower at $111.85.

Lean hog futures are lower at midday. Lower cash hog prices and a slightly bearish Hogs and Pigs report are weighing on futures trade. The report showed a slight year over year increase in both market hog and breeding hog inventories. Cash hog markets are trading $1-$2 lower this morning as most packers have needs covered for the week. July is $1.40 lower at $94.60 and August is $1.65 lower at $93.55.


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


Blend and Bulk Tower Systems

Waconia Towers provide speed, efficiency and reliability that only gravity-fed systems can offer. Towers are available with up to 300 ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form