Market Closes – October 16, 2014

Markets turned out quite favorably today considering yesterday’s volatility and extreme price drops. Many analysts believe the financial markets will continue to experience elevated volatility and could test lower levels. But others are more positive on the equity markets. Only time will tell and the...

Market Update – October 16, 2014

Some calm has come over the commodity and financial markets today. The US equity markets started sharply lower but have even traded higher this morning. Treasury yields are rising as the “fear trade” comes off some. U.S. economic reports this week have been mostly positive but have not made the usual...

Market Closes – October 15, 2014

Most ag futures closed lower today with limit down moves in Feeder Cattle and Lean Hog futures. Grains moved higher early but worked lower during the day as the U.S. equity markets collapsed (stocks erased a large share of the losses by the 4 pm closing bell). Drier weather is approaching and the 2-week...

Market Update – October 15, 2014

CBOT futures are narrowly mixed with the outside markets getting traders’ attention. The US dollar is down sharply as is the US equity markets. USDA reported U.S. harvest progress at 24% for corn and 40% for soybeans. Live Cattle futures have turned positive in the nearby October and December contracts....

Market Closes – October 13, 2014

CBOT futures closed higher with huge gains in corn and soybean futures on the rain-delayed harvest and dry weather in Brazil. A weaker US dollar was also supportive. Funds were big buyers in corn and the soy complex. Harvest should get back on track later this week. The 6-14 day NWS outlook shows below...

Market Update – October 13, 2014

Grain and livestock futures are up modestly with best percentage gains coming in Corn. Grains are recovering some of Friday’s losses which may have been overdone considering that the USDA reports were not bearish – the estimates were better than the average trade guess. Outside markets are mixed as the...

Market Closes – October 10, 2014

The rally in CBOT futures which occurred right after the USDA Crop Report and WASDE came out was short-lived. It appears that traders refocused on the record large crops and huge 2014/15 carryouts. There’s plenty of supply – especially now at harvest time. The market needs to encourage consumption by...

Market Update – October 10, 2014

The Crop Report and WASDE released at Noon CT had some good news in it and CBOT futures have rallied from the losses seen before the report. Generally, yields and production estimates are HIGHER than USDA’s September estimates but are lower than what the Average Trade Guess was. The 2014/15 Ending Stocks...

Market Closes – October 9, 2014

CBOT futures closed mixed in reaction to the morning’s weekly export sales report. Corn futures made a 3-week high but remain below a key chart resistance point. Average trade guess for tomorrow’s USDA Crop Report: Corn Prod’n = 14.52 billion bushels vs 14.395 from USDA September Crop Report 2014/15...

Market Update – October 9, 2014

CBOT futures are mixed, apparently reacting to this morning’s USDA Export Sales Report. Otherwise, tomorrow’s Crop Report at 11 am CT will be the main price driver. December Corn is creeping closer to the chart resistance level at 3.505. November Soybeans are 14 cents below the chart gap at...

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