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
Wednesday Hogs Finished Mixed -

Lean hog futures finished mixed, showing 20 cent losses, as well as 17 cent gains. The last trading day is Friday for December hogs, which stayed 17

Soybeans approach Double Digit Moves -

Soybean futures ended the mid-week session lower by 8 1/4 to 9 3/4 cents. Soymeal futures were down by $2.30/ton, while soy oil futures finished

Wheat Market Closed Mostly Lower -

Wheat futures trading mostly lower after Wednesday’s trades. Chicago SRW futures were down by the most posting losses of 3 3/4 to 4 3/4 cents in

Cotton Finished Higher -

Cotton futures came back down after posting midday highs, but front months ended mixed at 6 lower to 18 higher. This morning the USDA GAIN reports

Corn Fell a Few on Wednesday -

Corn futures were down 4 3/4 to 6 1/4 cents after Wednesday trading, closing the chart gap from September. The weekly update from the EIA showed

Cattle Market Up, Feeders Helped by Cheap Corn -

Live cattle futures had posted gains of as much as 90 cents at the close. Dec futures were 72 cents higher. Feeder cattle futures gained triple

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