Soy steady, corn and wheat lower this morning

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

Corn futures are trading lower this morning. Corn futures edged higher during the overnight session on mimicking the trend in the soy complex; but as prices began to slip in the soybean market, corn futures turned lower. Harvest pressure and pre positioning ahead of the October WASDE are also weighing on futures. December corn is trading 1 ½ cents lower.

Soybean futures are trading slightly higher this morning. Soybean futures are holding firm although lightly, adding to yesterday’s gains on support from bullish exports and weather damage to the Canadian canola crop. Weekly export sales totaled approximately 1.3 tonnes, topping the higher end of trade expectations, indicating firm demand for U.S. soybeans. Soybean futures are trading 1 ¼ cents higher.

Wheat futures are trading 1 to 3 cents lower this morning. Wheat futures are under pressure at this hour with light losses across all three exchanges. Poor demand for U.S. wheat continues to limit any upside movement across contracts. However, forecasts calling for very low temperatures across the U.S. Plains and news that the current Russian wheat crop is the smallest crop since 2003 should spark renewed buying interest in the market.

Live cattle futures are called to open higher this morning. Cash developed Thursday afternoon with cash prices steady to $1 higher. Although cash trade is expected to be complete, more light trading action may take place today. The market should see support by way of good export sales. Weekly sales were reported at 15,800 tonnes, up 61 percent from the previous week.

Lean hog futures are called to open mixed this morning. Hog futures are expected to open uneven, supported by the jump in the pork carcass value and steady to higher cash prices. However, follow through selling and easing grain prices may pull futures (deferred) contracts lower.

Cotton futures are trading lower this morning. The front month (December) contract is currently trading 69 points lower. Continued residual selling after futures hit a 100 day moving average yesterday is still affecting the market. The dollar index is higher and is expected to keep prices trading defensively throughout the session.

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

Portable Conveyors

Convey-all portable conveyors are designed to handle your crops gently and efficiently. We offer an extensive line of high capacity ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form