Soybeans dropped on Thursday following lower-than-expected weekly export sales data from the U.S. Department of Agriculture (USDA), seasonally rising supplies from the South American harvest and falling soyoil prices.
Chicago Mercantile Exchange live cattle futures fell to a fresh two-month low on Wednesday on technical selling and fund liquidation, as investors gauged whether beef demand would suffer amid recent news of avian influenza in dairy cattle.
U.S. corn futures rose on Wednesday on technical buying and short covering that lifted prices from Tuesday's one-month lows as traders assessed Midwestern weather conditions before the spring planting season.
Chicago Mercantile Exchange cattle futures rebounded on Tuesday as traders reassessed the market after worries about cattle infected with avian influenza had triggered a sharp selloff a day earlier.
U.S. corn futures dropped on Tuesday on forecasts for good spring planting weather, easing concerns about a lower-than-expected acreage outlook from the U.S. Department of Agriculture (USDA) last week.
For the week ending March 30, Western Canadian feeder cattle markets traded $4 to $6 higher on average. Fleshier backgrounded yearlings were relatively unchanged. Buyers were fairly cautious on backgrounded heifers with some packages actually softer than seven days earlier. Larger strings of quality genetic, low flesh steers were up $6 to as much as $10 in some cases. Weaned, premium, calves were up a solid $5 to $6 on average.
U.S. grain futures fell on Monday as pressure from ample supplies partly unraveled steep gains late last week following a U.S. Department of Agriculture report that projected lower-than-expected U.S. corn plantings.
Chicago Mercantile Exchange live and feeder cattle futures plunged on Monday on market uncertainty following news of a human case of avian influenza in a person who had contact with infected dairy cows.
Chicago Board of Trade corn futures posted their biggest one-day rally since July after the U.S. Department of Agriculture on Thursday reported grain stocks and intended plantings below trade estimates.
Projected corn acres at the lower end of trade expectations was the most notable news after the United States Department of Agriculture (USDA) released its Prospective Plantings and Quarterly Stocks reports on March 28.