Futures are steady to mixed in early trade
Hog futures are soft in early Wednesday trade despite the further strength in cash hogs Tuesday. That’s at least partly because futures remain at a strong premium to cash, though the gap is closing. Deferred contracts are under pressure from ideas the big premiums they hold over nearby contracts may be overdone if producers have tempered production cutbacks evident in the last Hogs& Pigs Report. In early morning trade, December hogs are 12 1/2 lower at $84.32 1/2; May futures down 90 at $97.60 and June down 20 at $99.85.
Cotton futures are mixed in early trade Wednesday, with some contracts recovering slightly from Tuesday’s sharp losses and other contracts losing a bit more ground. Failure to show any progress on avoiding the “fiscal cliff” has become a particularly negative factor for cotton futures. Traders know that should every American family see a big jump in tax withholding come January 1, new apparel is at the top of the list of discretionary spending families can cut back on. In early Wednesday trade, March cotton is up 14 points at 73.05, but new crop October cotton is down 20 points at 76.47.
- 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
- WSU researchers explain mystery of cereal grain defense
- Soybean success: Highest yield in Georgia history
- Innovative conservation efforts highlighted at Vilsack farm visit
- 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