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
Cotton Modestly Lower in Early Tuesday Trading -

Cotton futures are modestly lower in early Tuesday trading, down 13 to 27 points. Monday’s wide range session concluded with mixed prices. Front

Hogs Higher, Cutouts Higher, Cash Lags -

Lean hog prices closed higher after gaining back between 45 and 97 cents. USDA’s National Average Afternoon Base hog price was $67.24 down by 9

Wheat Markets Higher Early -

The wheat futures are trading higher in all three US markets this morning. Front month wheat markets closed mixed on spread adjusting. Winter wheats

Cattle Futures Drift Lower With Beef Prices -

The week’s live cattle trading began with Monday losses. Futures ended the day down 35 to 55 cents in the front months. There were no cash sales

Soybean Futures Firm 5 to 8 Cents Since Monday Close -

Soy futures are trading 5 to 8 cents higher thus far on Tuesday. Bean prices pulled back some in the afternoon and ended the session fractionally to

Corn Futures Up 2 Cents to Begin Tuesday -

Corn prices are 2 cents higher to begin Tuesday’s session. Corn futures were 4 3/4 to 7 cents higher on Monday. For December corn, that was the

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