Grains holding steady gains at midday

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

Corn futures are trading higher at midsession. USDA grain export inspections were quite bearish for the corn market. Pre-trade estimates were between 16.0 and 21.0 million bushels; however USDA reported export inspections at 9.6 million bushels. Overall, corn futures are steady, between 2 to 3 cents higher with price support tied to gains in the wheat market and the positive affects a Ukrainian wheat export ban could have on the U.S. corn market. December corn futures are trading 3 cents higher.

Soybeans futures are trading higher at midsession. Soybean futures are being securely underpinned by strong export demand. Weekly export shipments were particularly bullish for the market this morning. USDA reported soybean shipments at 61.4 million bushels, sharply higher than the upper range of analysts’ estimates. Speculation that the South American soybean crop may not be as large as anticipated is also supporting futures. November soybean futures are trading 13 ½ cents higher.

Wheat futures are trading higher at midsession. Wheat futures are trading firmly higher as global supply worries increase. News that the Ukraine is strongly considering export ban and continued dry weather in Australia are fueling buying support in U.S. wheat. Also, there has been some speculative talk that a Ukrainian export ban may lead to Russia implementing some type of export control. However, it is only speculative talk and has not been confirmed. December wheat at CBOT is trading 8 cents higher.

Live cattle futures are strengthening at midsession. Cattle futures are posting strong gains despite weakness in wholesale beef prices. Prices are being supported by last week’s bullish cattle on feed report. October 1 cattle on feed was reported down 2.6% from the previous year, which was below analysts’ expectations. September placements were also reported at a 16 year low. The market is also being strengthened by last week’s strong cash market trade. December cattle futures are trading 15 cents higher.

Lean hog futures are lower at midsession. Lean hog futures are trading defensively on weak demand by packers despite a firm jump in the pork carcass value. Last week’s pork cutout jumped above $89 on firm demand for certain pork cuts. Pre position squaring ahead of this afternoon’s cold storage report is also negatively affecting futures. December lean hog futures are trading 77 cents lower.

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 

e-Mail (required)


characters left

Pacesetter Grain Hopper

The Pacesetter Gain Hopper features original and innovative ideas like the patented RollerTrap™, the industry’s easiest to open and maintain trap ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form