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
Cattle Mixed at Close -

Cattle closed mixed ahead of the COF report, with 2 to 10 cent gains in 2020 expiry months. The back months were 15 to 60 cents in the red. Feeder

Corn Higher at Close -

Corn rallied in the afternoon and added 1 to 3 cents to the week’s move. For the week, Dec futures were up 4.29%. The carry (a.k.a contango)

Ag Market Commentary -

Corn rallied in the afternoon and added 1 to 3 cents to the week’s move. For the week, Dec futures were up 4.29%. The carry (a.k.a contango)

Soy Rallies into Weekend -

Soybeans rallied off of midday losses and ended the week with 4 to 10 cent gains. November outgained Jan by 3 cents from Friday to Friday, adding to

Wheat Gains on Friday Trading -

Front month wheat futures were higher on Friday. CBT wheat closed the last trading day of the week with 4 3/4 to 10 cent gains. KC HRW gained 7 to 9

Hogs Gain in Afternoon -

After trading in the red at midday, Friday hog futures closed 2 to 82 cents higher. May futures stayed 32 cents in the red at the close. For

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