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Hogs: Afternoon Comments (Thursday, July 02, 2015 18:02:02)

Lean hogs traded higher Thursday seeming to reverse and downward trend that started in early May after the quarterly high of 85.20 cents/pound. Just days before our national holiday, nearby futures continued higher today perhaps on feed cost implications brought on by the rise in corn and beans. The deferred months also continued higher presumably on the tightening of the farrowing sow, implied by the recent USDA report. August hog futures gained 1.52 cents to 76.37 cents/pound Thursday, while December advanced .30 cents to 63.80.

Soybeans: Afternoon Comments (Thursday, July 02, 2015 18:00:45)

The oilseed market ended mixed Thursday after fireworks earlier this week. The soy complex appeared to wind down activity after substantial gains on the stocks report and ahead of the long holiday weekend. Weekly export sales for soybeans were weaker than expected, reporting -10,300 tonnes for old crop and 127,500 tonnes for new crop. The trade was expecting 100,000 tonnes for old crop and 150,000-350,000 tonnes for new crop. Weather, crop conditions, re-survey results from AR, KS, MO, and harvested acres numbers will all be key going forward. July soybeans lifted 1.25 cents to $10.4525/bushel Thursday, while July soyoil gained .35 cents to 33.36 cents/pound, and July meal lost $2.4 to $357.4/ton.

Corn: Afternoon Comments (Thursday, July 02, 2015 18:00:25)

The grain markets are mixed at the close Thursday, ahead of the 4th of July holiday weekend. The agricultural markets will be closed on Friday July 3rd. Weekly export sales came in at 594,300 tonnes for old crop, at the high end of the expected range, and 238,900 tonnes for new crop, about the middle of the expected range. Corn futures closed stronger after an eventful week capping off a quarter where nearby corn hit a high of $4.15 on Tuesday and a low of $3.48 on June 15th. Volatility has remained a constant as supply and demand factors are ever changing. The US Dollar Index is down .25 to 96.66. July corn futures gained 6 cents to $4.1975/bushel at the close Thursday , while December rose 5.25 cents to $4.37.

Wheat: Afternoon Comments (Thursday, July 02, 2015 18:01:11)

Wheat futures traded lower Thursday and have somewhat stabilized after heavy losses yesterday in late response to Tuesday’s bearish government numbers. The news that Canadian wheat acres are expected to rise 1.3% combined with larger than expected stocks and acreage could keep pressure on wheat in the near term. Weather in the Midwest, disease in winter wheat, and dryness in the EU will continue to be watched. July CBOT wheat futures slid 1.75 cents to $5.8575/bushel Thursday, while July KC wheat lost 3 cents to $5.73/bushel, and July MWE lowered 7.75 cents to $5.9975.

Cotton: Afternoon Comments (Thursday, July 02, 2015 18:02:37)

ICE cotton futures were mixed to close the week after minor losses Wednesday and after a boost Tuesday. Tuesday cotton reached 67.51, near the quarterly high of 67.88 from April. While the cotton market felt a boost Tuesday (report day), prices are still a far cry from the April 2013 days of 86 cents/pound. Still, current prices are above the 100-day moving average of 64.46. While the lowest U.S. cotton acres in 31 years were reported by the USDA yesterday, the global cotton supply still remains in a glut and appears to be working towards an equilibrium. July cotton futures lifted 1.44 cents to 67.53 cents/pound Thursday, while December fell .21 to 67.33. 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.