Alan Brugler
Cotton Post Monday Strength
BarchartMon Apr 22, 5:03PM CDT
The cotton market saw some recovery from the drop off the February highs, as contracts were up 29 to 140 points on Monday. The US cotton crop is now 11% planted as of April 21 according to the NASS Crop Progress report from this afternoon. That matches both the 5-year...
Cattle Rally After Digesting USDA Data
BarchartMon Apr 22, 5:03PM CDT
Live cattle closed Monday with contracts up $2.35 to $3.20 in fallout from friendly the USDA Cattle on Feed report. Cash action picked up on Friday, with some $183-184 live and $292 dressed action reported in the North, steady to down $1 from the previous week. Southern trade was steady,...
Soybeans Slip From Highs, Still Post Double Digit Gains
BarchartMon Apr 22, 5:03PM CDT
Soybeans closed the week’s opening session with contracts 8 ½ to 11 ¾ at the closing bell. Soymeal was up 60 cents to $2.10 on the day to help with product support. The real support was from Soy Oil , which saw contracts up 65 to 72 points at the...
Corn Rallies on Monday
BarchartMon Apr 22, 5:03PM CDT
Corn futures got some help from the other grains in the complex, as contracts closed with gains of 3 to 6 ¾ cents across the board. Positive Inspections data and spillover strength from wheat were supportive. USDA’s Export Inspection report showed a MY high 1.623 MMT of corn shipped during...
Wheat Leading the Grain Charge Higher on Monday
BarchartMon Apr 22, 5:03PM CDT
The wheat market led the grain rally on Monday. Chicago contracts were up 10 to 21 cents across the board. Kansas City futures were 16 ¼ to 20 ¼ cents higher on the day. MPLS spring wheat posted lighter gains, but still 3 ¼ to 10 ¼ cents higher. A...
Hogs Sneak Higher on Monday
BarchartMon Apr 22, 5:03PM CDT
Lean hogs snuck out some gains on Monday, with contracts steady to $1.20 higher across the board. USDA’s National Average Base Hog negotiated price was up $1.82 in the Monday afternoon print, at $90.31. The CME Lean Hog Index was back down 11 cents higher at $91.35 on April 18....
Soybeans Posting Double Digit Gains on Monday
BarchartMon Apr 22, 12:01PM CDT
Soybeans are posting double digit 11 to 14 cent gains on Monday, helped out by the oil part of the products. Preliminary open interest from Friday showed some net new buying, up 2,147 contracts. Soymeal was mixed, with May down 40 cents and July up 50 cents/ton. Soy Oil saw...
Cotton Recovering Higher at Midday
BarchartMon Apr 22, 12:01PM CDT
The cotton market is showing 65 to 106 point gains on Monday as futures recover from the recent collapse. Commitment of Traders data confirmed a mass exodus of the managed money long in cotton futures in options in the week that ended on 4/16, of 25,890 contracts. That was the...
Hogs Pushing Higher to Start New Week
BarchartMon Apr 22, 12:01PM CDT
Lean hogs are trading 60 cents to $1.40 higher on Monday. USDA’s National Average Base Hog negotiated was not printed on Monday morning due to light volume, as the 5-day rolling average is a $88.87. The CME Lean Hog Index was back down 11 cents higher at $91.35 on April...
Wheat Leading the Grain Charge Higher on Monday
BarchartMon Apr 22, 12:01PM CDT
The wheat market is leading the grain rally on Monday, as contracts are pushing higher. Chicago futures are up 20 to 23 cents. Kansas City contracts are up 17 to 21 cents. MPLS is following along with gains of 6 to 10 ¼ cents. Weekly Export Inspection data from USDA...
Corn Following Grain Strength, Helped by Large Export Shipment Total
BarchartMon Apr 22, 12:01PM CDT
Corn futures are pushing higher to start the week, with contracts up 5 to 7 cents at midday. Spillover support from strength in wheat is helping. Preliminary open interest rose 5,697 contracts on Friday on overall net new buying. USDA’s Export Inspection report showed a MY high 1.623 MMT of...
Cattle Rallying on Monday Follow Friendly USDA Data
BarchartMon Apr 22, 12:01PM CDT
Live cattle are up $2 to $3.35 on Monday in fallout from the USDA Cattle on Feed report. Cash action picked up on Friday, with some $183-184 live and $292 dressed action reported in the North, steady to down $1 from the previous week. Southern trade was steady, at $182....
Soybeans Pull Back to Start Week
BarchartMon Apr 22, 7:30AM CDT
Overnight action in the bean market has futures down 3 to 5 cents. Soybeans posted 7 ¾ to 16 ¾ cent gains across the board on Friday to ease the week’s losses. Preliminary open interest showed some net new buying, up 2,147 contracts. Soymeal was up $3.50 to $5.80 heading...
Wheat Higher Out of the Gates
BarchartMon Apr 22, 7:30AM CDT
The wheat market is mostly higher in the winter wheats early on Monday, with MPLS showing slightly mixed action. They were on a rally train on Friday, as Chicago led the complex with 13 ½ to 17 ¼ cent gains. Price action was a mix of short covering and net...
Hogs Look to New Trading Week
BarchartMon Apr 22, 7:30AM CDT
Lean hogs posted gains of as little as 60 cents in the deferred contracts to $2.27 in the nearbys. USDA’s National Average Base Hog negotiated price was down $1.29 in the Friday afternoon report at $88.49. The CME Lean Hog Index was another dime higher at $91.46 on April 17....