Market Recap:

Posted on 05/14/2018 2:46 PM

Corn: Corn futures finished steady to 3/4 cent lower and near mid-range for the day. Corn futures failed to stray too far from unchanged today, amid bullish and bearish elements at work in the marketplace.

Soybeans: Soybean futures finished the day 8 3/4 to 18 1/4 cents higher, with the May contract that expired today leading gains. Soymeal futures surged while soyoil futures faced pressure. Action in the soybean market continues to hinge on developments on the U.S./China trade front.

Wheat: Wheat futures settled roughly 7 to 8 cents lower in the SRW and HRW contracts today. Spring wheat futures finished around 3 cents lower. Winter wheat futures ended low-range. Wheat futures extended recent losses today amid a combination of fundamental pressure and chart-based selling.

Cotton: Cotton futures 38 to 92 points lower through the March contract. Futures finished low-range for the day. Cotton futures were pressured by fund liquidation today.

Hogs: May lean hog futures expired a nickel lower at $65.25 today. Deferred months posted gains ranging from 85 cents in the December contract to $1.75 in the July contract. With the May contract coming off the board, traders will pay more attention to the $11.50 premium the June contract holds to the cash hog index.

Cattle: Live cattle futures were hit hard today, with June live cattle down the $3.00 limit and August futures down $2.52 1/2. December live cattle were down $1.80. Trading limits expand to $4.50 for live cattle futures Tuesday. Feeder cattle futures contracts hit four-week lows today and were down $3.02 1/2 to $3.52 1/2. Friday’s lower cash cattle trading activity at mostly $122.00 weighed heavily on the futures markets today.

Add new comment