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 in Black at Midday -

Monday trading has fat cattle futures 17 to 40 cents higher at midday. Feeder cattle futures are mixed at midday, trading within a dime of UNCH. The

Wheat Higher Out of Weekend -

Wheat futures markets were lower overnight, but are now mostly higher. Winter wheat is gaining 5 to 5 3/4 cents for SRW and 5 3/4 to 6 3/4 for HRW.

Ag Market Commentary -

Midday corn trading has the board 1 1/4 to 3 3/4 cents higher on Monday. USDA announced two large private export sales this morning. Japanese

Beans in Red at Midday -

Monday soybeans are trading 4 1/2 to 6 3/4 cents lower. Soymeal futures are down $.90 to $7.40/ton at midday. Bean oil futures are 6 to 24 points in

Corn Gains out of Weekend -

Midday corn trading has the board 1 1/4 to 3 3/4 cents higher on Monday. USDA announced two large private export sales this morning. Japanese

Hog Market Pulls Back at Midday -

Monday lean hog futures prices are down 5 to 87 cents, save for a 90 cent gain in October hogs. The CME Lean Hog Index was $74.53 on 9/24, which was

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