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Market Snapshot
Quotes are delayed, as of April 29, 2024, 03:08:57 PM CDT or prior.
Commentary
- Hogs Mixed at Midday
- Lean hogs are mixed on Monday, with contracts anywhere from 67 cents lower to 15 cents higher. USDA’s National Average Base Hog negotiated price was not reported this morning due to light volume, with the 5-day rolling average at $90.45. The CME Lean Hog Index was back down 55 cents...
- Cotton Bouncing at Midday
- Cotton futures are up 59 to 86 points so far at Monday’s midday. Active December is leading the way up 86 points. The outside markets were mixed, with Crude Oil down 77 cents per barrel, with the US dollar index down 449 points, adding a little support. CFTC data released...
- Soybeans Heading Higher to Start New Week
- Soybeans are trading 5 to 10 cents higher so far on Monday after coming out of the gates running this morning. Preliminary open interest dropped 32,868 contracts, almost exclusively due to May options expiration. Soymeal is rallying hard at midday, with $7.30 to $8.60 gains. Soy Oil is back lower,...
- Corn Showing Fractional Trade at Midday
- Corn futures are showing fractional losses so far on Monday. Preliminary open interest dropped a sharp 39,164 contracts. That was to be expected given the expiration of the May options (OI there declined 57,778 contracts). Export Inspections data from FGIS showed 1.23 MMT of corn shipped in the week of...
- Wheat Pulling Back to Start the Week
- Wheat futures are backing off to start this week. Kansas City futures are 5 to 7 cents in the red at midday. MPLS is holding up, with contracts steady to fractionally mixed. Chicago contracts are taking a hit, down 9 ti 15 cents at midday. Preliminary open interest for CBT...
- Cattle Weaker to Start New Week
- Cattle futures are down a dime to $1.32 on Monday with April up 32 cents ahead of tomorrow’s expiration. Cash trade last week was 182-183 in the South, steady to $1 higher. Northern trade was reported at $184-186, steady to $2 higher on the week, with a few trickling in...
National Newswire
Kansas USDA Newswire
