Sign In  |  Register  |  Find Reseller  |  Syngenta Global
FarmAssist
Market Headlines
Cotton: Afternoon Comments (Thursday, July 31, 2014 02:07:04)

Cotton traders seemed disappointed with the Export Sales results. The weekly USDA report indicated minimal old-crop cotton sales, but the new crop sales result, as well as the shipment total, seemed supportive. However, ICE futures turned sharply lower by late Thursday morning, thereby implying the industry wasn’t impressed. Big equity index losses and concurrent U.S. dollar strength probably encouraging bears as well. December cotton tumbled 1.13 cents to 62.87 cents/pound at Thursday’s settlement, while March futures fell 1.33 cents to 63.51.

Wheat: Afternoon Comments (Thursday, July 31, 2014 02:07:04)

The wheat markets firmed Thursday afternoon. Wheat futures sagged on favorable weather news Wednesday night, but firmed after the Export Sales report posted a new-crop total well above expectations. Prices at the various exchanges were decidedly mixed at midday, but continued climbing as the close loomed. September CBOT wheat gained 3.0 cents to $5.3025/bushel as Thursday’s Chicago session ended, while September KC wheat ascended 8.75 cents to $6.2575/bushel, and September MWE wheat rose 3.25 cents to $6.16.

Soybeans: Afternoon Comments (Thursday, July 31, 2014 02:07:04)

Thursday’s late soy action proved surprisingly weak. The Export Sales report stated bean and meal totals in the upper end of or above trade forecasts. That probably explained late-morning strength as well as the old-crop leadership across the soy complex. However, bulls could sustain only a portion of the early momentum in the face of massive harvest forecasts. August soybean futures closed just 4.0 cents higher at $12.245/bushel Thursday, while November futures inched up 0.75 cent to $10.82. August soyoil bounced 0.06 cents to 36.11 cents/pound and August soymeal added $3.7 to $391.3/ton.

Corn: Afternoon Comments (Thursday, July 31, 2014 02:07:04)

The Export Sales report discouraged corn traders. The USDA report indicated a disappointing total for old crop corn sales, although the new crop total easily topped forecasts. The former apparently grabbed the attention of traders, as indicated by subsequent CBOT weakness. Superlative growing conditions are encouraging bears. September corn dropped 4.75 cents to $3.57/bushel in late Thursday trading, while December lost 4.5 cents to $3.67.

Hogs: Afternoon Comments (Thursday, July 31, 2014 02:07:04)

Hog futures couldn’t sustain their Thursday morning bounce. Hog traders have anticipated big seasonal losses during the days and weeks ahead, but traders apparently decided that early-morning losses were overdone. CME prices rebounded to moderately higher levels, but sagged to general losses in afternoon trading. August hog futures dropped 1.02 cents to 118.02 cents/pound, while December dipped 0.27 cents to 94.17.


FarmAssist.com 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.