Market Commentary

August 6, 2013

Good Morning,
 
Yesterday afternoon the USDA raised the corn condition in the G/E category by 1% bringing it to 64%. They raised the ratings in IL, OH, NE, MO and KS while lowering it in IA and MN. Wisconsin came in at 60% G/E which is down 1%.
On Monday 8/12/13 the USDA will release its August S&D report which many that are looking for a bounce in the markets are hoping they will adjust planted acres lower. While this could happen, there is a good chance they will raise yield which most likely will negate any bullish support the acreage number would have supplied. Private estimates released over the last few days are expecting yields in the 158-161 bpa.  Read More

Commentary
Hogs Post Triple Digit Gains on Monday -

Lean hog futures were $1.07 to $2.07 higher in the nearby contracts on Monday. December Pork Cutout futures were up $1.55 The CME Lean Hog Index for

Corn Settles Higher on Monday -

Corn futures closed the Monday session with 3 1/2 cent gains in nearby Dec, with other front months up 5 ¼ to 5 3/4 cents. A private export sale of

Wheat Closes Mixed on Monday -

Wheat futures saw gains in the winter wheat markets on Monday, with MPLS steady to 1 1/2 cents lower in the front months. CBT was the strongest, up

Cattle Rally Triple Digits with Help from CoF report -

Live cattle futures rallied $2.07 to $2.45 in the front months on Monday, on reaction to Friday’s Cattle on Feed report. Feeder cattle futures

Beans Start the Short Week with Double Digit Gains -

Soybeans futures posted a double digit rally on Monday, with front months 11 to 12 1/2 cents higher. Jan beans hit $12 overnight but backed off in

Cotton Sharply Higher on Monday -

Cotton futures posted 79 to 112 point gains on Monday. Front month futures hit an 18-month high of 72.70 earlier on the session. Monday was first

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