Chicago Mercantile Exchange lean hog futures turned higher on Wednesday as fund investors adjusted their positions and sought short-covering, even as many contracts set new lows for a second trading day, traders said.
Grain futures at the Chicago Board of Trade (CBOT) are expected to decline after the United States Department of Agriculture (USDA) releases its prospective plantings and quarterly grain stocks reports on June 28.
Chicago Board of Trade (CBOT) soybean and corn futures fell on Tuesday as traders assessed the impact of flooding and heat on crops in the central U.S.
Analysts surveyed by Reuters project that quarterly USDA data will show the herd on June 1 was about 0.8 per cent bigger than a year earlier and that the number of pigs per litter was up 2.3 per cent in the March-May period.
Alberta and Saskatchewan heifer placements in the lighter weight categories are down from year-ago levels. Comments from ranchers and order buyers suggest that Western Canadian ranchers are holding back on heifers to expand the herd. This usually results in a narrowing of the steer/heifer spread.
Chicago Board of Trade (CBOT) soybeans rose on Monday as flooding hit the upper Midwest after a weekend of thunderstorms. Corn fell on acreage expectations ahead of a USDA report on Friday and wheat was down with analysts citing U.S. harvest pressure.
Chicago Mercantile Exchange (CME) nearby cattle future contracts turned higher on Monday as stronger-than-expected domestic seasonal demand and firm prices in the cash market gave futures a boost, market analysts said.
Chicago Board of Trade soybean futures strengthened on Friday as some weather models showed heavy rain putting certain U.S. production areas at risk of flooding, though they closed down for the week.
Chicago Mercantile Exchange (CME) feeder cattle futures turned lower and live cattle were mixed on Friday, as traders squared positions ahead of a closely-watched monthly feedlot report and anticipated smaller cattle placements, traders said.
Chicago Board of Trade corn slid on Thursday while soybeans closed at their lowest in two months as forecasts for heavy rains alleviated concerns about a heat wave in the central U.S. stressing crops.