Serving Our Community for Over 110 Years

9593 SBTULN rotators design3

DTN Midday Grain Comments 06/27 11:37

DTN Midday Grain Comments 06/27 11:37

All Grains Higher at Midday

Firm midday trade has most contracts near the daily highs; a weak dollar and short profit taking are noted for strength.

By David Fiala DTN Contributing Analyst

General Comments

The U.S. stock market indices are narrowly mixed. The interest rate products are weak. The dollar index is 84 points lower. Energies are firmer with crude up 80. Livestock trade is lower. Precious metals are mixed.

CORN

Corn trade is 4 to 5 cents higher at midday due to outside market support with the dollar and crude both higher. After the sell off last week many traders have noted the oversold conditions bringing in short profit taking at midday. The USDA reports on Friday also have traders wanting to go to the sidelines and wait for the numbers. The average trade guess for the June USDA Planting Intentions number is 89.82 million acres versus 89.996 in March and 94.004 a year ago. The range of estimates is 89-90.6. The June 1 Quarterly Grain stocks are expected to be at 5.16 billion bushels versus 4.711 billion a year ago. The weekly crop progress report showed conditions unchanged at 67% good to excellent, and 8% poor to very poor when the market was expecting a light bump up; this is also noted supporting trade. July corn futures have support at the new low printed Friday at $3.56 with resistance at the $3.70 10-day moving average.

SOYBEANS

Soybean trade is 8 cents higher at midday and we have been up a dime, meal is $1 higher and soybean oil s up 55 points. The weekly crop progress had conditions unchanged at 66% good to excellent when the trade was looking for a 1-3% increase. This along with friendly outside markets has beans trying to rally today. The USDA June Planting Intentions expectations are limiting upside with the average trade guess at 89.95 million acres versus 89.5 million on the March report and up from 83.4 million a year ago. This would be the first-year soybean acreage surpasses corn and frankly the first year they have been close to each other. The June 1 stocks are expected to be at 981 million bushels versus 872 a year ago. July beans have major support at the $9.00 14-month low made last week, with the 10-day and 20-day at $9.22-$9.24 first resistance area.

WHEAT

Wheat trade is around a nickel higher on the winter wheat contracts and up 15 on Minneapolis; new highs for the move have been scored on Minneapolis. The weak dollar and spillover support from the row crops are helping us see the wheat strength. The average trade guess for the all wheat planted number is at 46.045 million acres versus 46.059 on the March report. The June 1 Quarterly Wheat stocks are expected to be at 1.154 billion versus 976 billion a year ago. So no bullish or bearish surprises are expected on Friday. The spring wheat acreage estimate is at 11.234 versus 11.308 on the March report; the spring wheat acreage number is one area the market will be watching closely. Spring wheat was only rated 40% good to excellent on the weekly report yesterday afternoon. On the July Kansas City contract support is the 100-day at $4.52 with resistance the 10-day at $4.65.

David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered Advisor. He can be reached at dfiala@futuresone.com Follow him on Twitter @davidfiala

(BAS)

Copyright 2017 DTN/The Progressive Farmer. All rights reserved.

DTN Closing Livestock Comment 06/27 16:08

DTN Closing Livestock Comment 06/27 16:08 Sharp Losses Redevelop in Cattle Tuesday

Pressure swept through cattle futures Tuesday, leaving traders with unsettled concerns after limit gains pushed prices higher earlier in the week. The volatility seen during the first two day sof this week may lead to even more market uncertainty through the end of the week as traders close out the month of June and second quarter.

By Rick Kment DTN Analyst



GENERAL COMMENTS

Cash cattle trade was undeveloped late Tuesday afternoon, following aggressive losses in futures and concern that additional widespread pressure may continue to develop the rest of the week. A few scattered bids were noted in Iowa at $119, but asking prices remain undeveloped in all areas. Active trade may not be seen until after midweek. The Federal Cattle Exchange Auction will trade Wednesday morning. This will give the first indication of cash market activity for the week. It is uncertain just how much volume will be seen before the holiday week. Recent futures pressure may limit sales volume. According to the closing report, the national hog base is $0.03 lower compared with the Prior Day settlement ($81.00-$87.00) weighted average $85.75. Corn futures moved higher in light activity. July futures were 1/4 cent higher Tuesday. The Dow Jones Index is 66 points down with the Nasdaq down 90 points.

DTN Feeder Pig Index

DTN Early Word Grains 06/27 05:56

DTN Early Word Grains 06/27 05:56 Bouncing Beans

December corn was 2 cents higher, November soybeans were 8 cents higher, and July Kansas City (HRW) wheat was 3 cents higher.

By Darin Newsom DTN Senior Analyst

6:00 a.m. CME Globex: December corn was 2 cents higher, November soybeans were 8 cents higher, and July Kansas City (HRW) wheat was 3 cents higher.

CME Globex Recap: The overnight session saw soybeans bounce off recent lows, buoyed by Monday afternoon's weekly crop condition numbers from NASS. Similarly, Minneapolis spring wheat continued to move higher as well. Corn and winter wheat were more subdued, but went along for the ride anyway. Outside markets were also higher with gains seen in metals, energies and softs. Meanwhile, both the U.S. dollar index and DJIA futures were lower to start the day.

OUTSIDE MARKETS: The Dow Jones Industrial Average closed 14.79 points higher at 21,409.55, the NASDAQ Composite lost 18.10 points (0.3%) to 6,247.15, and the S&P 500 added 0.77 point to 2,439.07 Monday. DJIA futures were 17 points lower early Tuesday morning. Asian markets closed mixed with Japan's Nikkei up 71.74 points (0.4%), Hong Kong's Hang Seng off 31.90 points (0.1%), and China's Shanghai Composite adding 5.75 points (0.2%). European markets were trading mostly lower with London's FTSE 100 down 4.32 points, Germany's DAX off 51.06 points (0.4%), and France's CAC 40 down 25.40 points (0.5%). The euro was 0.0074 higher at 1.1255 while the U.S. dollar index was 0.43 lower at 96.98. September 30-year T-Bonds were 9/32 lower at 156'20 while August gold rallied $5.60 to $1,252.00. Crude oil was $0.43 higher at $43.81 while Brent crude gained $0.51 to $46.34. China's Dalian soybean futures were lower while Malaysian palm oil futures were closed again overnight.

DTN Early Word Opening Livestock 06/27 06:02

DTN Early Word Opening Livestock 06/27 06:02 Meat Futures Should Open With a Firm Undertone

The cattle complex should open solidly higher, supported by short-covering and spillover buying. Lean hog futures are similarly set to open with a firm undertone, boosted by short-covering and bull spreading.

By John Harrington DTN Livestock Analyst



Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $156.88 - .22* Hogs: Steady Futures: 50-100 HR Lean Equiv $106.88 +.20**

* based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

After being beaten to a pulp over the last two weeks, cattle feeders are desperate to find a corner they can defend. Monday's triple-digit rally in futures may be a promising serving of hope in that regard. Needless to say, the board will need to do more work before it can lend cash potential any legs. Accordingly, bids and asking prices will probably remain poorly defined Tuesday with both sides monitoring the board for greater credibility. Our guess is that significant trade volume will not surface until Wednesday or Thursday. Live and feeder futures should open higher, supported by follow-through buying and ideas of cash stability.

DTN Midday Livestock Comments 06/27 12:20

DTN Midday Livestock Comments 06/27 12:20

Sharp Losses Hold in Cattle Trade Midday Tuesday

Aggressive triple-digit losses hold across the complex as traders flood the market as they back away from previous market support. This could leave the complex under pressure once again with even more volatility through the rest of the week.

By Rick Kment DTN Analyst

GENERAL COMMENTS:

Cattle futures remain sharply lower with triple-digit losses quickly developing Tuesday morning. This lack of support in the complex has added to the market pressure. Hog markets are lightly traded with narrow moves limiting activity and keeping volume light. Corn prices are higher in light trade. July corn futures are 2 cents higher. Stock markets are lower in light trade. The Dow Jones is 21 points lower while Nasdaq is down 51 points.

LIVE CATTLE:

Sharp losses are seen in cattle trade with triple-digit losses seen in all live cattle markets. Even though live cattle futures are posting losses from $2 to $2.70 per cwt losses, the expanded trading limits available due to Monday's gains could create even wider market swings before the end of the session. There continues to be some significant market shifts available to the complex and this could shift the tone of the market through the end of the week. Cash cattle markets remain generally quiet Tuesday with a few bids trickling into Iowa at $119 live basis through the morning. Asking prices are undeveloped in all areas at this point. It is expected that additional bids will develop either later in the day or earlier Wednesday, but active trade may not be seen until sometime Thursday or Friday. Beef cut-outs at midday are lower, $1.40 lower (select) and down $2.36 per cwt (choice) with light movement of 60 total loads reported (25 loads of choice cuts, 20 loads of select cuts, 8 load of trimmings, 7 loads of ground beef).

Feeder Cattle:

Sharp losses have continued to develop through feeder cattle markets which is limiting overall support through the entire market. With expanded trading limits during the session, traders remain concerned that traders will have the opportunity to extend losses beyond the $4.50 per cwt gains seen Monday and create even more bearish selling pressure as the week continues. This could not only create added volatility into the market but uncertainty through the entire cattle complex.

LEAN HOGS:

Narrow trading ranges are holding in lean hog futures with the hog complex trading between 20 cents lower and 30 cents higher at midday. The lack of direction in the complex given the aggressive losses across the cattle complex appears to be focusing on firm fundamental support still able to develop across the complex. This may help to draw buyer support back into the complex through the rest of the week. Cash prices are lower on the National Direct morning cash hog report. The weighted average price fell $0.79 at $84.99 per cwt with the range from $82.00 to $86.00 on 3,632 head reported sold. Cash prices are unreported on the Iowa/Minnesota Direct morning cash hog report. The National Pork Plant Report reported 167 loads selling with prices adding $1.23 per cwt. Lean hog index for 6/23 is at $90.62 up $0.45 with a projected two-day index of $91.10 up $0.48.

Rick Kment can be reached at rick.kment@dtn.com

(ES)

Copyright 2017 DTN/The Progressive Farmer. All rights reserved.

DTN Closing Grain Comments 06/27 14:13

DTN Closing Grain Comments 06/27 14:13 Spring Wheat Soars

September Minneapolis wheat jumped 17 1/4 cents higher Tuesday, also reaching its highest spot close in nearly two years, with chances for more dry weather ahead in the northwestern Plains. Other grain contracts were not as excited, but did post modest gains while traders wait for Friday's USDA reports.

DTN Cattle Close/Trends 06/27 15:30





USDA MARKET NEWS--AFTERNOON CATTLE REPORT 06/27/17

VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG KANSAS CONFIRMED CASH SALES - TODAY: 0 WEEK T0 DATE: 0 STEERS No reportable trade HEIFERS No reportable trade

NEBRASKA CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 0 STEERS No reportable trade HEIFERS No reportable trade

TEXAS CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 0 STEERS No reportable trade HEIFERS No reportable trade

COLORADO CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: 0 STEERS No reportable trade HEIFERS No reportable trade

IOWA CONFIRMED CASH SALES - TODAY: 560 WEEK TO DATE: 675 STEERS No reportable dressed trade HEIFERS No reportable dressed trade

COMMENTS: Another quiet day with the cash trade at a near standstill

5-AREA LV STR AVE PR&WT: $120.00(1420)Light Test / HIDE&OFFAL: $11.85 Unchg CARCASS EQV INDEX CHOICE (600-900#) SELECT (600-900#) #OF HD LIVE BASED 184.75 157.60 79,183 BOX BASED 221.91 203.26 44,369 AVE INDEX 203.33 -2.35 180.43 -1.22 123,552 BEEF CUTOUTS CHOICE (600-900#) SELECT (600-900#) 233.91 -4.66 215.26 -2.40 58.73 LDS CH CUTS / 37.73 LDS SEL CUTS / 16.58 LDS TRIM / 14.95 LDS GROUND BOXED BEEF TREND: Shrply lr on lt-mod dem & mod offers COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 06/23 $236.23 -1.84 CUTTER 90% 350# UP C/O: $181.64 +0.87 NAT'L BONELESS BF TRIM: 27.13 lds / Modly/shrply lr on lt dem & mod offers 90% TRIM: 06 lds: Wtd Avg $232.79 / Unevenly steady *ABCDE AFTER QUOTE REPRESENTS DAYS SINCE LAST REPORTED MARKET TEST*. FI KILL(WTD) TUE 118(235) WK AGO 117(231) YR AGO 114(225) MIX: MON SH96/CB21 WEEKLY CANADIAN CATTLE IMPORTS. FEEDERS SLAUGHTER S&H Week Ending: 06/10/17 2,211 4,899 Week Ending: 06/03/17 1,262 3,063 Change from prev week: +949 +1,836

DTN Chart Technical Points 06/27 16:30

DTN Chart Technical Points 06/27 16:30 DTN FUTURES 10 6/27/17 SLOW STOCHASTIC PRICES ARE DECIMAL MOVING AVERAGES RSI'S 5 Day 20 Day CONTRACT CLOSE 4-Day 9-Day 18-Day 45-Day 9Day 14Day 30Day %K %D %K %D CBTWT JUL 453.25 456.06 460.81 450.21 440.32 51.37 53.71 53.31 12 26 68 80 CBTWT SEP 469.00 470.81 476.00 464.96 454.59 52.47 54.62 53.92 14 25 67 79 KC WT JUL 457.25 460.56 466.17 455.85 445.04 50.15 53.28 53.11 14 25 66 77 KC WT SEP 475.75 478.88 484.31 473.69 462.30 50.83 53.94 53.71 14 25 66 77 MN WT JUL 681.50 665.69 653.61 628.68 583.86 86.39 83.58 76.02 75 74 91 92 MN WT SEP 686.00 670.56 658.25 633.15 589.27 87.71 84.87 77.00 75 75 92 92 CORN JUL 359.25 359.69 368.47 374.04 371.77 32.40 38.12 44.18 10 6 5 17 CORN SEP 367.75 367.81 376.53 382.01 379.54 33.56 38.78 44.51 11 6 6 17 CORN DEC 377.50 377.63 386.47 392.18 389.80 32.93 38.28 44.31 12 7 6 17 OATS JUL 246.50 252.00 258.53 254.86 245.51 39.72 46.06 50.71 6 13 46 65 OATS SEP 249.00 254.38 256.78 249.93 237.38 48.09 52.51 54.57 15 28 64 75 BEANS JUL 911.25 906.63 920.50 925.39 943.71 36.06 37.12 38.85 18 10 13 26 BEANS AUG 916.00 911.06 924.67 929.18 946.15 37.15 37.93 39.27 18 11 14 28 BEANS SEP 917.25 912.13 926.03 930.07 944.63 38.02 38.70 39.90 18 11 15 31 S MEAL JUL 294.00 293.88 297.48 300.16 306.90 25.93 30.86 37.07 17 12 9 17 S MEAL AUG 295.80 295.58 299.22 301.87 308.17 27.43 31.68 37.40 18 13 10 19 B OIL JUL 32.08 31.69 32.14 31.92 32.19 51.98 50.58 48.33 22 12 33 45 B OIL AUG 32.20 31.81 32.27 32.05 32.30 51.97 50.61 48.43 23 12 32 45 CATTLE JUN 119.60 119.72 120.33 125.01 124.46 36.39 40.11 47.96 53 38 10 9 CATTLE AUG 115.03 115.71 116.21 119.67 120.02 37.74 40.61 47.81 54 44 15 12 FEEDER AUG 144.88 145.68 145.69 149.77 150.68 41.90 43.80 48.97 62 56 23 18 FEEDER SEP 144.52 145.20 145.16 149.23 150.33 42.13 43.88 49.04 64 57 23 18 HOGS JUL 86.47 85.96 84.80 83.25 80.13 68.13 66.80 63.03 71 74 86 87 HOGS AUG 78.55 78.94 79.91 80.41 78.87 38.85 44.16 49.82 16 32 39 55 COTTON JUL 74.44 72.98 72.15 73.86 76.80 55.93 48.75 46.48 87 60 25 12 COTTON OCT 69.75 68.93 69.50 71.91 74.13 36.07 35.20 39.46 68 49 22 13 RICE JUL 11.29 11.21 11.31 11.24 10.72 54.44 56.29 57.77 45 31 50 63 RICE SEP 11.59 11.49 11.59 11.52 10.98 55.67 57.29 58.61 41 27 52 64

Member Login

MyCardStatement Logo

btn atm

Like us on Facebook

Switch

 mastercard secure code

order personal checks

Go to top