 |
Outside market pressure overshadowed strength
in the boxed Beef market and hopes for steady to firmer cash Cattle trade later
this week.
|
Grains
Wheat futures were pressured throughout the
day. Chicago Wheat ended roughly 0.02 to 0.03 lower. Kansas City closed 0.01
higher in Jul and Sept while deferred months were slightly lower. Minneapolis
was 0.06 to 0.08 lower through the Mar contract. While the HRW wheat crop is
limping into harvest due to hot and dry conditions in the Southern Plains,
fresh supplies are pressuring the market.
Corn futures closed 0.03 to 0.0475 higher in
all but the Jul contract, which settled 0.03 lower. All but the Jul contract
ended on or near session highs. Futures did not stray far from those levels in
after-hours trading. Price action was highly choppy in the corn market today as
negative outside markets battled building concerns with this year’s crop given
dryness issues, especially in the southern and eastern Corn Belt.
Soybean futures were under pressure much of
the day, but they trimmed losses as the day progressed and finished around 0.13
lower in old-crop futures while new-crop futures closed narrowly mixed. Soybean
futures continued to improve in after-hours trade. A sharply higher USD and
general risk off mode weighed on the Soybean market Wednesday.
Original Article Here
No comments:
Post a Comment