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Ag markets diverged after Tuesday's USDA reports

Corn futures reacted badly to the USDA reports. The USDA released its Grain Stocks and Prospective Plantings reports at 11:00 AM CDT this morning, which sent corn prices sharply lower. The stocks result easily topped forecasts, thereby depressing old crop prices, while the 2015 acreage figure also far exceeded expectations and depressed new crop values. May corn futures plunged 18.25 cents to $3.7625/bushel in late Tuesday trading, while December dropped 17.5 to $4.0025.

Markets

Soybean plantings seen up in 2015 despite falling prices, corn lower

U.S. farmers will plant more soybeans, sorghum and other grains than last spring, and less corn, a more expensive crop to grow, as they face their tightest finances in a decade, analysts said before the government's closely watched plantings report on Tuesday.

Markets

Crop, livestock markets diverged Monday morning

Short covering reportedly boosted crop markets Monday morning. Tomorrow’s big USDA Grain Stocks and Prospective Plantings reports could spark strong reactions in the crop markets, so traders are probably squaring positions beforehand. Indeed, wire service reports cited short-covering for today’s early corn strength. Concurrent soybean and wheat gains are likely pulling corn higher as well. May corn futures edged up 2.0 cents to $3.93/bushel late Monday morning, while December added 1.75 to $4.165.

Markets

Cooney: Weaner breakevens reach $31

Looking at hog sales in September and pricing off the October lean hog contract the weaner breakeven was $31.80, up $3.53 for the week as future prices increased $1.97. Feed costs were up $0.50 per head.

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