Chicago benchmark wheat futures WN24 fell more than two per cent on Monday, snapping a seven-session rally, as the crop outlook in top exporter Russia improved on forecasts for rain, analysts said.
Chicago Mercantile Exchange (CME) cattle futures turned higher on Thursday on technical trading, bouncing off the previous sessions lows in response to the U.S. government announcing plans to expand testing of dairy cows for avian influenza, market analysts said.
Chicago Board of Trade wheat futures hit highs not seen since January for a second day, as anxiety over dry weather conditions persisted for top exporter Russia.
Chicago Board of Trade wheat futures continued their steady climb on Wednesday, as dry weather raised concerns in key growing regions and Russian attacks in the Black Sea area threatened to disrupt supply chains.
Chicago Mercantile Exchange (CME) cattle futures fell sharply on Wednesday after the U.S. government announced plans to expand testing of dairy cows for avian influenza - even though the virus has not been identified in beef cattle herds, market analysts said.
Chicago wheat surged to a two-month high on Tuesday as a decline in U.S. winter wheat conditions focused attention on weather risks to northern hemisphere crops.
Chicago Mercantile Exchange (CME) lean hog futures rallied in tandem with other commodities markets on Tuesday as signs of tightening supplies and a favorable pork demand outlook supported prices, traders said.
Compared to last week, backgrounded yearlings traded $4-$8/cwt higher on average. Calves were quite variable with prices quoted from unchanged to as much as $10 higher. Overall, there appeared to be stronger buying interest this week across all weight categories.
U.S. wheat futures rallied to their highest point in more than two months before the session closed on Monday as crop weather concerns in the Northern Hemisphere supported prices and triggered technical buying and short covering, which accelerated the climb, analysts said.
U.S. corn and soybean prices rose on Friday as heightened geopolitical tensions spurred a round of bargain buying after the benchmark contracts in both markets fell to their lowest levels in more than six weeks, traders said.