Market News

05/22 05:55 - DTN Early Word Grains

DTN Early Word Grains 05/22 05:55 A Much Quieter Morning July corn was 2 cents higher, July soybeans were 1 cent higher, and July Kansas City (HRW) wheat was 6 cents higher. By Darin Newsom DTN Senior Analyst 6:00 a.m. CME Globex: July corn was 2 cents higher, July soybeans were 1 cent higher, and July Kansas City (HRW) wheat w…

05/22 11:27 - DTN Midday Grain Comments

DTN Midday Grain Comments 05/22 11:27 All Grains Higher at Midday Wheat leads trade higher across the board at midday. By David Fiala DTN Contributing Analyst General Comments The U.S. stock market indices are mixed with the Dow down 10 points. The interest rate products are firmer. The dollar index is 10 points lower. En…

05/22 13:49 - DTN Closing Grain Comments

DTN Closing Grain Comments 05/22 13:49 Winter Wheat Pushes Higher Not only did winter wheat contracts lead grains higher, helped by a forecast for hot temperatures this weekend, they led gains for all commodities on Tuesday, except natural gas. Corn and soybeans posted modest gains on a day that offered another good opportunity for row-crop…

05/22 16:00 - DTN Cattle Close/Trends

USDA MARKET NEWS--AFTERNOON CATTLE REPORT 05/22/18 VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG KANSAS CONFIRMED CASH SALES - TODAY: 0 WEEK T0 DATE: 0 STEERS No reportable trade HEIFERS No reportable trade NEBRASKA CONFIRMED CASH SALES - TODAY: 0 WEEK TO DATE: …

05/22 05:51 - DTN Early Word Opening Livestock

DTN Early Word Opening Livestock 05/22 05:51 Look for Cattle Futures to Open Mixed The cattle complex should open on a mixed basis tied to residual buying on one hand and long liquidation on the other. Lean hog issues are also likely to begin with mixed price action thanks to follow-through selling and signs of stronger carcass value. …

05/22 12:12 - DTN Midday Livestock Comments

DTN Midday Livestock Comments 05/22 12:12 Summer Hog Futures Remain Under Pressure at Midday Lean hog futures near the top of the noon hour are under considerable selling pressure with the first five months in the red by triple digits, On the other hand, the cattle complex is modestly higher for the most part, recovering from ear…

05/22 17:02 - DTN Closing Livestock Comment

DTN Closing Livestock Comment 05/22 17:02 2018 Lean Hog Contracts Close Sharply Lower Lean hog futures settled significantly lower with all 2018 issues suffering triple-digit losses. Cattle futures closed modestly higher, though forward progress was generally modest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS …

05/22 16:30 - DTN Chart Technical Points

DTN Chart Technical Points 05/22 16:30 DTN FUTURES 10 5/22/18 SLOW STOCHASTIC PRICES ARE DECIMAL MOVING AVERAGES RSI'S 5 Day 20 Day CONTRACT CLOSE 4-Day 9-Day 18-Day 45-Day 9Day 14Day 30Day %K %D %K %D CBTWT JUL 521.50 511.13 503.19 510.81 493.37 60.89 58.33 55.8…

- DTN Feeder Pig Index

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Quotes
 
@C - CORN - CBOT
  High Low Last Chg
Jul 406'2 404'4 405'6 1'0
Sep 414'6 413'0 414'4 1'0
Dec 424'4 423'0 424'2 1'0
 
@S - SOYBEANS - CBOT
  High Low Last Chg
Jul 1035'6 1028'2 1034'2 3'6
Aug 1039'4 1032'2 1038'4 4'2
Sep 1041'0 1033'4 1041'0 5'4
 
@W - WHEAT - CBOT
  High Low Last Chg
Jul 525'6 520'2 524'6 3'2
Sep 542'4 536'6 541'4 3'0
Dec 563'4 558'0 561'6 2'0
 
@LE - LIVE CATTLE - CME
  High Low Last Chg
Jun 105.225 104.125 105.100 - 0.025
Aug 101.100 100.050 100.925 0.025
 
@HE - LEAN HOGS - CME
  High Low Last Chg
Jun 73.575 72.550 73.375 -0.875
Jul 76.250 74.975 75.275 -1.725

 
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May 22, 2018 at 5:55am DTN Early Word Grains


DTN Early Word Grains         05/22 05:55
   A Much Quieter Morning

   July corn was 2 cents higher, July soybeans were 1 cent higher, and July
Kansas City (HRW) wheat was 6 cents higher.

By Darin Newsom
DTN Senior Analyst

6:00 a.m. CME Globex:   July corn was 2 cents higher, July soybeans were 1 cent
higher, and July Kansas City (HRW) wheat was 6 cents higher.

CME Globex Recap:   Not surprisingly, markets in general were much quieter
overnight into Tuesday morning than 24 hours ago. Most notably, DJIA futures
were only up 60 points rather than 200 points-plus. On the other hand, the U.S.
dollar index was weaker providing new support to gold and sparking continued
buying in crude oil. The grain and oilseed complex was quietly higher across
the board.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed 298.20 points (1.2%)
higher at 25,013.29, the NASDAQ Composite gained 39.70 points (0.5%) to
7,394.04, and the S&P 500 rallied 20.04 points (0.7%) to 2,733.01 Monday. DJIA
futures were 62 points higher early Tuesday morning. Asian markets closed mixed
with Japan's Nikkei 225 down 42.03 points (0.2%), Hong Kong's Hang Seng closed,
and China's Shanghai Composite up 0.51 point. European markets were trading
mostly higher with London's FTSE 100 up 3.85 points, Germany's DAX up 2.87
points, and France's CAC 40 down 4.90 points. The 10-year Treasury yield was
3.065% with June 30-year T-Bonds 3/32 lower at 141'05. The euro was 0.0034
higher at 1.1825 as the U.S. dollar index lost 0.21 to 93.33. June gold gained
$3.50 to $1,294.40 while crude oil added $0.31 to $72.55. China's Dalian
soybean and Malaysian palm oil futures were both higher overnight.
DTN

May 22, 2018 at 11:27am DTN Midday Grain Comments


DTN Midday Grain Comments     05/22 11:27

   All Grains Higher at Midday

   Wheat leads trade higher across the board at midday. 

By David Fiala
DTN Contributing Analyst

 General Comments

   The U.S. stock market indices are mixed with the Dow down 10 points. The 
interest rate products are firmer. The dollar index is 10 points lower. 
Energies are firmer with crude up 0.40. Livestock trade is mostly lower. 
Precious metals are firmer with gold up 1.00.

   CORN

   Corn trade is 2 to 4 cents higher at midday with trade finding fresh buying 
as we move back towards the contract highs with support from weather and trade 
optimism. Warm weather should dominate the week, with near-term rains looking 
to miss wider swaths of the belt. The second crop areas of Brazil are trending 
back drier in the near term. Ethanol margins remain stable with the energy 
complex near the upper end of the range, with Memorial Day demand just around 
the corner, and futures edging back to $1.52 gallon. The weekly crop progress 
report showed planting at 81% complete, same as average, and 50% emerged, 3 
percentage points ahead of average. On the July chart we moved back above the 
20-day at $3.99 1/2 with the next level of support is 50-day at 3.94 which we 
tested to start the week, with resistance at the recent high at $4.08. 

   SOYBEANS

   Soybean trade is 2 to 4 cents higher at midday, with trade working to 
consolidate the gains from yesterday while South American supplies limit upside 
for now. Meal is 1.50 to 2.50 lower and oil is 20 to 30 points higher. South 
America's recent pattern should remain intact near term, with the Real and Peso 
remaining near record lows to boost export competiveness, with harvest moving 
towards the home stretch in Argentina with quality concerns remaining. Crush 
margins have narrowed but remain positive, with meal struggling to rally again 
here today. Weekly crop progress reflected the fast early pace with soybeans 
56% planted, vs. 44% on average, and 26% emerged vs. 15% on average. On the 
July chart, trade is back just above the 200-day at $10.16 with the next level 
of support the recent low at $9.93, and the 20-day at 10.26 the next level of 
resistance, which we are just above at midday with the 50-day at $10.38 the 
next round up. 

   WHEAT

   Wheat trade is 15 to 22 cents higher at midday reversing the losses from 
Monday with the weaker dollar and drier forecast for the Plains. Warmer weather 
should help to boost maturity with the crop still behind normal, but catching 
up with another week of heat likely to add stress to the heading crop. Spring 
wheat should see better progress with warmer weather helping to catch up 
emergence. The Black Sea area will continue to dominate export trade with 
weather issues limited for the moment but some dryness so far with concerns 
starting to build. Black Sea values are at $202 a ton. Weekly crop progress had 
conditions unchanged on good to excellent at 36% with poor to very poor 1 
percentage point lower at 35%, with 61% headed vs. 74% on average. Spring wheat 
was 79% planted, 1 percentage point behind average, with emerged at 37%, 15% 
behind average. On the July Kansas City contract support is the 20-day at 5.33, 
with the upper Bollinger Band at 5.65.

   David Fiala is a DTN contributing analyst and the President of FuturesOne 
and a registered adviser. 
He can be reached at dfiala@futuresone.com 
Follow him on Twitter @davidfiala


(BAS)

Copyright 2018 DTN/The Progressive Farmer. All rights reserved.

DTN

May 22, 2018 at 1:49pm DTN Closing Grain Comments


DTN Closing Grain Comments    05/22 13:49
   Winter Wheat Pushes Higher

   Not only did winter wheat contracts lead grains higher, helped by a forecast
for hot temperatures this weekend, they led gains for all commodities on
Tuesday, except natural gas. Corn and soybeans posted modest gains on a day
that offered another good opportunity for row-crop planting.
DTN

May 22, 2018 at 4:00pm DTN Cattle Close/Trends






                 USDA MARKET NEWS--AFTERNOON CATTLE REPORT    05/22/18

          VOLUME    USDA TOTAL RANGE   DTN PRACTICAL RANGE  WT AVG

KANSAS    CONFIRMED CASH SALES - TODAY:       0   WEEK T0 DATE:       0
STEERS    No reportable trade
HEIFERS   No reportable trade

NEBRASKA  CONFIRMED CASH SALES - TODAY:       0   WEEK TO DATE:       0
STEERS    No reportable trade
HEIFERS   No reportable trade

TEXAS     CONFIRMED CASH SALES - TODAY:       0   WEEK TO DATE:       0
STEERS    No reportable trade
HEIFERS   No reportable trade

COLORADO  CONFIRMED CASH SALES - TODAY:       0   WEEK TO DATE:       0
STEERS    No reportable trade
HEIFERS   No reportable trade

IOWA      CONFIRMED CASH SALES - TODAY:      82   WEEK TO DATE:     223
STEERS    40          180.00-180.00       180.00-180.00       180.00
HEIFERS   42          180.00-180.00       180.00-180.00       180.00

COMMENTS: Cattle country remained at a standstill with bids and 
asking prices poorly defined.

5-AREA LV STR AVE PR&WT: NA        HIDE&OFFAL: $9.46 Unchg
CARCASS EQV INDEX   CHOICE (600-900#)   SELECT (600-900#)    #OF HD
  LIVE BASED           175.21              153.59             75,965
  BOX BASED            217.35              193.86             46,869
  AVE INDEX            196.28  -1.11       173.73  -1.20     122,83
BEEF CUTOUTS        CHOICE (600-900#)   SELECT (600-900#)
                       229.35  -1.47       205.86  -1.66
  48.01 LDS CH CUTS / 47.13 LDS SEL CUTS / 14.23 LDS TRIM / 19.97 LDS GROUND
BOXED BEEF TREND: Lr on lt-mod dem & mod offers.
COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 05/18 $221.70 -1.02
 CUTTER 90%  350# UP C/O: $175.77 -0.60
 NAT'L BONELESS BF TRIM:  38.26 lds / Shrply hr on mod-good dem & mod offers
 90% TRIM:  04 lds: Wtd Avg $221.21/ Weak to lower
FI KILL(WTD) TUE 119(239) WK AGO 119(236) YR AGO 119(235) MIX: MON SH97/CB23
                    WEEKLY CANADIAN CATTLE IMPORTS.
                         FEEDERS     SLAUGHTER S&H
Week Ending:  04/28/18    7,980        6,879
Week Ending:  04/21/18    6,271        5,595
Change from prev week:   +1,709       +1,284

DTN

May 22, 2018 at 5:51am DTN Early Word Opening Livestock


DTN Early Word Opening Livestock       05/22 05:51
   Look for Cattle Futures to Open Mixed

   The cattle complex should open on a mixed basis tied to residual buying on
one hand and long liquidation on the other. Lean hog issues are also likely to
begin with mixed price action thanks to follow-through selling and signs of
stronger carcass value.

By John Harrington
DTN Analyst



Cattle: Steady-$2 LR   Futures: Mixed   Live Equiv: $149.01  - .77*
Hogs:   Steady         Futures: Mixed   Lean Equiv: $ 81.29  +2.19**

* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   The cash cattle trade is likely to put in a slow day with bids and asking
prices poorly defined. Both buyers and sellers will be carefully monitoring the
board for hints of cash potential going forward. Live and feeder futures should
open on a mixed basis thanks to a combination of follow-through buying and long
liquidation.
DTN

May 22, 2018 at 12:12pm DTN Midday Livestock Comments


DTN Midday Livestock Comments          05/22 12:12

   Summer Hog Futures Remain Under Pressure at Midday

   Lean hog futures near the top of the noon hour are under considerable 
selling pressure with the first five months in the red by triple digits, On the 
other hand, the cattle complex is modestly higher for the most part, recovering 
from early session weakness. 

By John Harrington
DTN Analyst

GENERAL COMMENTS: 

   The cash cattle arena remains untested at midday with neither bids or asking 
prices well defined. Significant trade volume could easily be delayed until 
Wednesday or Thursday. According to the noon report, the national hog base is 
not tested due to rules of confidentiality. Corn futures are 3 cents plus 
higher at midday, supported by further reports of dryness in Brazil as well as 
parts of the American Midwest. Currently, the stock market is mixed with the 
Dow off 40 points and the Nasdaq up 1.

   LIVE CATTLE: 

   Although most live contracts opened moderately lower, short covering has 
caused issues to generally firm since midsession. At midday, prices are 
modestly higher for the most part as bulls seem to be doing a decent job 
holding on to yesterday's major surge. Stuck between ideas of oversold futures 
and further cash vulnerability, traders seem to be treading water until one 
side or the other can gather more convincing evidence. Beef cut-outs are mixed 
at midday, up 0.27 (choice, $231.09) to off 0.11 (select, $207.41) with light 
to moderate box movement (27 loads of choice cuts, 27 loads of select cuts, 8 
loads of trimmings, 9 loads of coarse grinds).

   FEEDER CATTLE: 

   Feeders are narrowly mixed as the trade moves into the session's final hour. 
Prices range from up 5 to 22 lower. Trade volume seems very slow. 

   LEAN HOGS: 

   Lean hog contracts are under substantial pressure with summer issues headed 
back into the lower 70s. Prices ranged from 32 to 127 points lower. Right or 
wrong, there's not much confidence here that all the recent ballyhoo over a 
trade truce with China means much for the long side of the market. Carcass 
value is some higher at midday with lower picnics and hams overshadow by 
stronger fresh cuts, ribs, and bellies. Pork cut-out: $76.42, up 0.32 CME cash 
lean index for 05/18: 68.38, up 0.64 (DTN Projected lean index for 05/21: 
68.69, up 0.31).

   John A. Harrington can be reached at john.harrington@dtn.com 


(SK)

Copyright 2018 DTN/The Progressive Farmer. All rights reserved.

DTN

May 22, 2018 at 5:02pm DTN Closing Livestock Comment


DTN Closing Livestock Comment 05/22 17:02
   2018 Lean Hog Contracts Close Sharply Lower

   Lean hog futures settled significantly lower with all 2018 issues suffering
triple-digit losses. Cattle futures closed modestly higher, though forward
progress was generally modest.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   The cash cattle trade was a complete nonevent with players not even
bothering to field nominal bids and asking prices. According to the closing
report, the national hog base is unchanged ($59-$65.16, weighted average
$64.78). The corn market closed several cents higher, supported by dry weather
in Brazil where the corn crop estimate seems to be shrinking every day. The
stock market closed lower on news that President Donald Trump was not satisfied
with the progress of China trade talks. The Dow closed 178 points higher with
the Nasdaq down by 15.
DTN

May 22, 2018 at 4:30pm DTN Chart Technical Points


DTN Chart Technical Points             05/22 16:30
DTN FUTURES  10       5/22/18                                   SLOW STOCHASTIC
PRICES ARE DECIMAL        MOVING AVERAGES            RSI'S        5 Day  20 Day
CONTRACT    CLOSE   4-Day  9-Day 18-Day 45-Day  9Day 14Day 30Day  %K %D  %K %D
CBTWT    JUL 521.50 511.13 503.19 510.81 493.37 60.89 58.33 55.82  75  69 54 45
CBTWT    SEP 538.50 527.63 519.69 527.07 510.22 61.81 58.99 56.29  77  70 54 44
KC WT    JUL 540.50 531.19 522.58 534.01 517.51 58.49 56.18 54.51  74  70 42 32
KC WT    SEP 559.25 549.94 541.25 552.31 536.04 58.70 56.38 54.72  75  71 43 32
MN WT    JUL 633.00 624.63 614.61 616.24 611.96 65.24 60.25 54.37  79  80 72 54
MN WT    SEP 638.75 630.25 620.92 622.53 618.19 66.47 60.92 54.98  80  81 71 52
CORN     JUL 404.75 401.31 400.19 401.82 395.36 59.29 57.69 56.66  72  55 66 61
CORN     SEP 413.50 409.81 408.58 409.76 402.73 60.63 58.98 57.75  75  56 70 65
CORN     DEC 423.25 419.38 418.00 418.40 411.34 62.89 60.88 59.15  79  60 74 69
OATS     JUL 249.75 244.50 241.72 239.21 237.86 71.80 64.20 53.35  95  88 92 84
OATS     SEP 252.50 248.81 246.81 243.68 243.19 71.31 63.96 53.17  87  88 95 91
BEANS    JUL1030.501012.311012.221024.921037.31 55.31 51.32 49.64  68  39 21 15
BEANS    AUG1034.251016.131015.861028.131039.50 55.71 51.69 49.94  70  40 22 15
BEANS    SEP1035.501017.811017.531027.881034.83 56.93 53.04 51.21  72  42 25 16
S MEAL   JUL 377.50 377.00 379.91 386.66 383.14 42.08 44.73 49.74  23  15  9 16
S MEAL   AUG 377.50 376.05 378.27 384.46 381.24 44.59 46.25 50.65  33  19  9 12
B OIL    JUL  31.51  31.21  31.14  30.93  31.45 61.58 55.68 48.86  73  55 59 54
B OIL    AUG  31.63  31.33  31.25  31.04  31.57 61.74 55.76 48.94  73  55 59 53
CATTLE   JUN 104.90 103.82 104.43 105.19 104.62 51.47 49.67 46.63  59  37 29 32
CATTLE   AUG 100.65  99.65 100.96 102.77 103.41 42.10 41.59 41.62  40  23 15 13
FEEDER   MAY 133.95 133.30 134.66 136.91 137.33 39.26 40.56 42.52  37  22 10  8
FEEDER   AUG 140.73 139.39 140.11 142.58 142.92 46.66 45.51 45.29  61  40 19 13
HOGS     JUN  73.13  74.57  75.28  74.68  75.21 38.47 41.82 43.83  21  37 45 50
HOGS     JUL  75.13  76.86  77.51  76.90  77.29 34.97 39.59 43.20  25  46 43 47
COTTON   JUL  87.35  86.84  85.37  85.25  83.68 63.45 61.16 58.43  75  73 68 53
COTTON   OCT  85.20  84.46  82.94  82.26  80.64 70.95 67.68 63.80  91  92 89 74
RICE     JUL  12.33  12.35  12.46  12.68  12.75 33.12 36.14 42.97  17  15  9 10
RICE     SEP  11.90  11.88  11.93  12.06  12.03 40.43 42.54 48.24  24  25 16 18

DTN

January 01, 1970 at 12:00am DTN Feeder Pig Index

DTN