August Cattle On Feed
The August Cattle on Feed report was viewed as bullish for CME cattle futures on Monday. The July placement rate fell short of expectations and was 92% of last year, which resulted in slightly tighter than expected on feed supplies. NASS reported the August 1 feedlot inventory at just over 11 Mil head and down…
AgResource Corn Comment and Analysis
CBOT Corn Ends Higher for Third Day; Pro Farmer Field Data Awaited: CBOT corn futures rallied 6-7 cents on modest short covering. Next week’s expansive private crop tour of the Midwest will provide clarity on how variable summer weather impacted corn yields. Otherwise, ARC’s work maintains that CBOT futures at $4.80-5.00 and US/South American fob…
AgResource Soybean Comment and Analysis
Soybeans Rally on Hot/Dry Midwest Forecast: Soybean futures marked solid gains on Friday. Technical buying developed as November soybeans pushed above the 200-day moving average with futures supported by a hot/dry Midwest weather forecast. The GFS forecast at midday projected heat index temps of 102-107 F across the Central Midwest mid next week. The Pro…