Chicago wheat futures fell on Thursday as a short-covering rally earlier this week that took prices to a one-month peak petered out, with traders seeing limited threats to Northern Hemisphere crops despite adverse weather concerns.
Chicago Mercantile Exchange live cattle turned higher on Thursday, as traders adjusted their positions ahead of the Memorial Day holiday weekend and wholesale prices continued to rise on consumer beef demand, market analysts said.
Chicago Mercantile Exchange live cattle firmed on Wednesday as wholesale prices continued to rise and consumer demand for beef has stayed strong amid the U.S. grilling season, market analysts said.
Chicago wheat futures extended gains on Wednesday, at one point rising to a one-month high, amid support by a weaker dollar and short-covering encouraged by production concerns, market analysts said.
Chicago Board of Trade wheat futures surged to a two-week high on Tuesday, as a weaker dollar and an unexpected decline in U.S. crop ratings encouraged more short-covering after prices hit a five-year low last week.
Glacier FarmMedia | MarketsFarm – Cattle contracts on the Chicago Mercantile Exchange made small gains on Friday, providing little relief at the end of a tough week. The August live cattle contract gained US$0.900 per hundredweight to close at US$206.750. Meanwhile, August feeder cattle saw an increase of US$1.775/cwt. to end the day at US$297.600. […] Read more
Cattle futures tumbled farther off the contract highs hit earlier in the week on Thursday. Profit taking, as well as comments from Tyson Foods CEO Donnie King that cattle herds were “very close” to a rebuild at a conference on Wednesday, caused August live cattle futures to fall and that pressure continued on Thursday. The […] Read more
Chicago Board of Trade soybean futures set a nearly 10-month high on Wednesday as the truce in the U.S.-China tariff dispute and a proposal to extend a U.S. biofuel tax credit boosted hopes for demand.