Grains rebound overnight

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 this morning. Corn futures are rebounding after a sluggish day of trade on Monday. Again futures are expected to trade more volatile as the trade awaits the release of the October WASE estimates. Pre report trade estimates peg the average production of the 2012 corn crop at 10.601 billion bushels, 126 million bushels below the September estimate.

Soybeans futures are trading higher this morning. Soybean futures are posting firm gains early morning on short covering and bargain buying. Along with the corn futures, soybean futures traded under pressure most of the previous trading session. Traders are moving with caution as the release of the October WASDE approaches. Pre report trade estimates forecast soybean production at 2.759 billion bushels with an average yield of 37.006.

Wheat futures are trading higher this morning. Wheat futures are trading higher for the second consecutive day on global supply worries. Due to poor weather conditions, production output in Australia and Russia is expected to decline significantly, as a result increasing demand for U.S. wheat. Australian wheat production is projected to decline by more than one million tonnes while Russian output is only expected to reach 70 million tonnes.

Live Cattle futures are called to open higher. After a strong performance in the previous session, cattle futures are poised to open higher on follow through buying and the rebound in wholesale beef prices. Both choice and select cuts increased over 50 cents, which should attract buying interest in the complex. Cash trade has not developed yet but is called steady versus last week’s trade.

Lean hog futures are called to open mixed this morning. Although the market managed close higher on Monday, futures are expected to open under slight pressure. Cash is anticipated to slow down with bids steady to lower due to ample pork supply at the moment. However, improving fundamentals should limit losses.

Cotton futures are trading higher this morning. Cotton futures are trading higher at this hour on news that Chinese cotton output is expected to be about 4.2% lower than the previous year’s output. However, the higher dollar index and pre positioning ahead of USDA’s supply/demand estimates could potentially limit gains.


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


OptRx crop sensors

Features & Options: Increase yield potential by applying the ideal amount of nitrogen to corn or wheat based on crop ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form