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Hogs: Afternoon Comments (Monday, September 26, 2016 19:58:19)

Lean hog futures settled 30 to 95 cents lower through the April contract. Futures were pressured by spillover from the cattle market, in addition to ongoing weakness in the cash hog market. Futures were unable to find any support from last Friday's Cold Storage Report that showed pork stocks at the end of August below expectations, indicating demand has been better than expected.

Cash hog bids remained steady to weaker across the Midwest on abundant market-ready supplies. Pork plants are well bought ahead on slaughter needs and are having no problem securing needed supplies with lower bids.

Soybeans: Afternoon Comments (Monday, September 26, 2016 19:55:51)

Soybean futures settled 8 3/4 to 9 3/4 cents lower through the July contract, which was on or very near session lows. Funds were net sellers of an estimated 6,000 contracts (30 million bu.) of soybeans on the day. Soybeans were pressured by an open weather forecast and expectations that harvest activity will ramp up across much of the Corn Belt this week. With early yields continuing to come in strong, seasonal pressure is likely to persist for a while. Additional pressure came from a disappointing weekly export inspections figure that was well below expectations at 383,953 MT. That overshadowed a daily sale of 240,900 MT of U.S. soybeans to unknown destinations this morning. Export demand must be exceptionally strong to counteract mounting seasonal pressure.

Corn: Afternoon Comments (Monday, September 26, 2016 19:56:17)

Corn futures closed near their lows of the day, finishing 6 1/4 to 7 1/2 cents lower through the December 2017 contract. The lead December contract paced declines. Funds sold an estimated 11,000 contracts (55 million bu.) to start the week. Corn futures fell on anticipation of harvest pressure. Except for waterlogged northeast Iowa and southeastern Minnesota, harvest progress is picking up across the Corn Belt. A benign weather forecast suggests rapid progress will be made this week. Some technical selling was noted, as well, as prices slipped through support at the 10-day moving average.

Wheat: Afternoon Comments (Monday, September 26, 2016 19:56:59)

Wheat futures ended the day mostly 7 to 9 cents lower, which was low-range for the day. Funds sold an estimated 4,000 SRW wheat contracts (20 million bu.) to start the week. Much of today's pressure came on spillover from losses in the corn and soybean markets, as there were some positive developments today. A weaker tone in the dollar index limited selling in early trade, as did the better-than-expected showing from the weekly export inspections report. Futures were also lower despite a boost to Russia wheat prices. With wheat in a follower's role, it will be difficult to garner much upward momentum without the help of corn and/or soybeans.

Cotton: Afternoon Comments (Monday, September 26, 2016 19:57:42)

Cotton futures closed 1 to 15 points higher through the July contract. Prices finished in the lower-third of today's range. Cotton futures got an early lift from a surge in crude oil futures and a weaker tone in the U.S. dollar index. Adding to early support were concerns portion of the large Texas crop were damaged by recent storms. But gains were trimmed during the session in anticipation of harvest pressure and on spillover from corn and soybean futures. December cotton futures opened higher but settled back as prices encountered resistance at the 71.00-cent area prompted by a test of the five-day moving average. Prices found support at the 40-day moving average, however, which coincides with support from Friday's low at 69.66 cents. is your source for ag news and information on crop pest identification, commodity and market prices, agricultural news & issues, and access to crop production management tools such as crop yield & planting calculators and herbicide, fungicide, and weed control information.