Market News

05/26 06:03 - DTN Early Word Grains

DTN Early Word Grains 05/26 06:03 Corn, Wheat Steady at Memorial Day Turn July corn was up 1/2 cent, July soybeans were down 2 cents, and July Chicago wheat was up 1/2 cent. By Todd Hultman DTN Analyst 6:00 a.m. CME Globex: July corn was up 1/2 cent, July soybeans were down 2 cents, and July Chicago wheat was up 1/2 cent. CM…

05/26 11:07 - DTN Midday Grain Comments

DTN Midday Grain Comments 05/26 11:07 Grains Mixed at Midday Trade is higher for corn and wheat, soybeans making new lows. By David Fiala DTN Contributing Analyst General Comments The U.S. stock market indices are lower with the Dow futures down 15. The interest rate products are mostly higher. The dollar index is 20 point…

05/26 13:48 - DTN Closing Grain Comments

DTN Closing Grain Comments 05/26 13:48 Soybeans Sag to New Lows as Corn, Wheat Hold Firm July soybeans fell another 13 cents Friday, extending Thursday's new one-year low as buying evaporated ahead of Memorial Day weekend. July corn was up a nickel and July Chicago wheat was up 7 1/2 cents, helped by commercial buying and more unwanted rain…

05/26 15:45 - DTN Cattle Close/Trends

USDA MARKET NEWS--AFTERNOON CATTLE REPORT 05/26/17 VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG KANSAS CONFIRMED CASH SALES - TODAY: 1,452 WEEK T0 DATE: 18,984 STEERS 1,391 128.00-128.00 128.00-128.00 128.00 HEIFERS 61 128.00-128.00 128.00-128.00 …

05/26 08:03 - DTN Early Word Opening Livestock

DTN Early Word Opening Livestock 05/26 08:03 Meat futures are set for mixed opening in light trade volume The cattle complex should open with mixed prices thanks to a combo of follow-through buying and pre report/weekend profit taking. Lean hog issues are also likely to begin with uneven action in light holiday-related trade volume. By…

05/26 11:50 - DTN Midday Livestock Comments

DTN Midday Livestock Comments 05/26 11:50 Firm gains quickly moved into the market late Thursday morning as June live cattle posted triple-digit gains. The renewed buyer support is based on sluggish market activity, more than changing fundamentals developing across the complex. By Rick Kment DTN Analyst GENERAL COMMENTS: …

05/26 16:26 - DTN Closing Livestock Comment

DTN Closing Livestock Comment 05/26 16:26 Cattle Futures Break Hard Given Bearish On-Feed News The cattle complex closed sharply lower right before the holiday recess, pressured by long-liquidation and the negative implications of the May 1 on-feed report. On the other hand, summer lean hog contracts closed the week with solid gains, supported…

05/26 16:30 - DTN Chart Technical Points

DTN Chart Technical Points 05/26 16:30 DTN FUTURES 10 5/26/17 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 438.25 432.75 430.83 433.11 435.31 57.78 53.63 49.7…

- DTN Feeder Pig Index

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Quotes
 
@C - CORN - CBOT
  High Low Last Chg
Jul 374'6 368'6 373'6 5'0
Sep 382'4 376'2 381'2 4'6
Dec 393'0 386'6 392'0 5'0
 
@S - SOYBEANS - CBOT
  High Low Last Chg
Jul 941'0 925'2 926'0 -13'0
Aug 942'6 928'2 929'0 -12'0
Sep 940'0 926'6 927'6 -11'0
 
@W - WHEAT - CBOT
  High Low Last Chg
Jul 439'0 429'2 438'6 7'4
Sep 452'2 442'4 452'2 7'0
Dec 474'0 464'4 473'4 7'0
 
@LE - LIVE CATTLE - CME
  High Low Last Chg
Jun 124.625 122.125 122.625 - 1.225
Aug 121.650 118.400 118.875 - 2.450
 
@HE - LEAN HOGS - CME
  High Low Last Chg
Jun 81.875 80.850 81.875 0.875
Jul 82.025 80.425 81.750 1.325

 
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May 26, 2017 at 6:03am DTN Early Word Grains


DTN Early Word Grains         05/26 06:03
   Corn, Wheat Steady at Memorial Day Turn

   July corn was up 1/2 cent, July soybeans were down 2 cents, and July Chicago
wheat was up 1/2 cent.

By Todd Hultman
DTN Analyst

6:00 a.m. CME Globex:   July corn was up 1/2 cent, July soybeans were down 2
cents, and July Chicago wheat was up 1/2 cent.

CME Globex Recap:   Corn and wheat prices were holding steady to start the
final day of trading before the Memorial Day weekend commences. Soybeans were a
little lower early, carried by Thursday's bearish momentum, with little trading
volume this week to support prices.

OUTSIDE MARKETS:   The Dow Jones Industrial Average closed up 70.53 points at
21,082.95. The NASDAQ Composite was up 42.24 points at 6,205.26 and the S&P 500
was up 10.68 points at 2,415.07 Thursday. DJIA futures were down 18 points
early Friday morning. Asian markets were mixed with Japan's Nikkei down 126.29
points (-0.6%), Hong Kong's Hang Seng up 8.49 points (0.03%), and China's
Shanghai Composite up 2.23 points (0.07%). European markets were mostly lower
early Friday with London's FTSE 100 up 6.93 points (0.1%), Germany's DAX down
60.67 points (-0.5%), and France's CAC 40 down 44.20 points (-0.8%). The U.S.
dollar index was down .11 at 97.09 while the June euro was up 0.00170 at
1.12330. June 30-year T-Bonds were up 4/32nds at 153'31 while June gold was up
$9.30 at $1,265.70. July crude oil was up 0.30 at $49.20 while July Brent crude
was up $0.38 at $51.84. Soybeans at the Dalian Exchange were mixed overnight
and Malaysian palm oil futures are down 2.0%.
DTN

May 26, 2017 at 11:07am DTN Midday Grain Comments


DTN Midday Grain Comments     05/26 11:07

   Grains  Mixed at Midday

   Trade is higher for corn and wheat, soybeans making new lows. 

By David Fiala
DTN Contributing Analyst

 General Comments

   The U.S. stock market indices are lower with the Dow futures down 15. The 
interest rate products are mostly higher. The dollar index is 20 points higher. 
Energies are mixed with crude up 0.30. Livestock trade is mixed. Precious 
metals are mixed with gold $9.80 higher.

   CORN

   Corn trade is 3 to 5 cents higher at midday with corn trying to close out 
another positive week going into the Holiday weekend. Crop weather will be the 
main market driver moving forward as trade goes into the long weekend with near 
term conditions remaining soggy in the east, and drier conditions building on 
the northern planins. Ethanol margins futures have bounced this morning but 
firmer corn and middling unleaded values are limiting margin gains. On the July 
chart support is at the $3.69- $3.70 area where we find the major moving 
averages clustered. Resistance is at the May $3.79 high.  

   SOYBEANS

   Soybean trade is 5 to 9 cents lower at midday with continued liquidation 
after new lows were made. Meal is $1 to $2 lower and oil is 20 to 30 points 
lower. Continued long liquidation may stick around into the weekend in the 
absence of a major weather driver in the near term. Basis is steady to firm 
with the weaker futures of recent days. Chinese crush margins have turned 
negative, and there has been talk of canceled US Cargos weighing on the market. 
July beans have new support at $9.32, with resistance at 10-day moving average 
of $9.54.

   WHEAT

   Wheat trade is 4 to 7 cents higher at midday with firmer action developing 
during the day session ahead of the long weekend and broader harvest expansion. 
Early yields remain on the light side with poor protein. World weather will 
continue to gain importance with concerns about wet weather in western Canada 
and dry pockets elsewhere with the Dakota's now moving into drought conditions. 
The dollar continues to drift at the lower end of the range. On the July KC 
contract support is the recent low at $4.21, with the 10-day at $4.30 just 
below the market with the 50-day at $4.37 which we are testing at midday.

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


(BAS)

Copyright 2017 DTN/The Progressive Farmer. All rights reserved.

DTN

May 26, 2017 at 1:48pm DTN Closing Grain Comments


DTN Closing Grain Comments    05/26 13:48
   Soybeans Sag to New Lows as Corn, Wheat Hold Firm

   July soybeans fell another 13 cents Friday, extending Thursday's new
one-year low as buying evaporated ahead of Memorial Day weekend. July corn was
up a nickel and July Chicago wheat was up 7 1/2 cents, helped by commercial
buying and more unwanted rain in this weekend's forecast.
DTN

May 26, 2017 at 3:45pm DTN Cattle Close/Trends






                 USDA MARKET NEWS--AFTERNOON CATTLE REPORT    05/26/17

          VOLUME    USDA TOTAL RANGE   DTN PRACTICAL RANGE  WT AVG
   
KANSAS    CONFIRMED CASH SALES - TODAY:   1,452   WEEK T0 DATE:  18,984
STEERS    1,391       128.00-128.00       128.00-128.00       128.00
HEIFERS   61          128.00-128.00       128.00-128.00       128.00

NEBRASKA  CONFIRMED CASH SALES - TODAY:   7,973   WEEK TO DATE:  28,147
STEERS    396         210.00-210.00       210.00-210.00       210.00
HEIFERS   298         208.00-208.00       208.00-208.00       208.00

TEXAS     CONFIRMED CASH SALES - TODAY:     998   WEEK TO DATE:   9,903
STEERS    998         132.00-132.00       132.00-132.00       132.00
HEIFERS   No reportable trade

COLORADO  CONFIRMED CASH SALES - TODAY:   1,813    WEEK TO DATE:  2,382
STEERS    1,277       132.00-132.50       132.00-132.50       132.47
HEIFERS   473         132.50-132.50       132.50-132.50       132.50

IOWA      CONFIRMED CASH SALES - TODAY:   4,526    WEEK TO DATE: 13,499
STEERS    1,358       208.00-210.00       208.00-210.00       208.25
HEIFERS   1,164       206.00-208.00       206.00-208.00       207.35

COMMENTS: A light trade today in the North and a little cleanup trade
in the South all at generally steady money with the rest of the weeks
business.

5-AREA LV STR AVE PR&WT: $132.88(1367)  HIDE&OFFAL: $11.35 -0.11
CARCASS EQV INDEX   CHOICE (600-900#)   SELECT (600-900#)    #OF HD
  LIVE BASED           201.80              180.36              49,914
  BOX BASED            233.60              206.45              45,478
  AVE INDEX            217.70  -1.20       193.40  -1.21       95,392
BEEF CUTOUTS        CHOICE (600-900#)   SELECT (600-900#)
                       245.60  -0.51       218.45  -0.53
  46.61 LDS CH CUTS / 38.74 LDS SEL CUTS /  2.64 LDS TRIM / 15.28 LDS GROUND
BOXED BEEF TREND: Wk on lt-mod dem & offers
COMPREHENSIVE WEEKLY CUTOUT VALUE: Week ending 05/19 $234.70 +3.78
 CUTTER 90%  350# UP C/O: $176.60 -0.15
 NAT'L BONELESS BF TRIM:  16.86 lds / Unevenly stdy on lt dem & offers
 90% TRIM:  07 lds: Wtd Avg $227.24 / Unevenly steady
*ABCDE AFTER QUOTE REPRESENTS DAYS SINCE LAST REPORTED MARKET TEST*.
FI KILL(WTD) FRI 114(575) WK AGO 110(561) YR AGO 112(558) MIX: THU SH93/CB22
             SAT  38(613) WK AGO  41(602) YR AGO  28(586)
                      WEEKLY CANADIAN CATTLE IMPORTS.
                         FEEDERS     SLAUGHTER S&H
Week Ending:  05/13/17    2,991        8,934
Week Ending:  05/06/17    2,032        5,507
Change from prev week:     +959       +3,427

DTN

May 26, 2017 at 8:03am DTN Early Word Opening Livestock


DTN Early Word Opening Livestock       05/26 08:03
   Meat futures are set for mixed opening in light trade volume

   The cattle complex should open with mixed prices thanks to a combo of
follow-through buying and pre report/weekend profit taking. Lean hog issues are
also likely to begin with uneven action in light holiday-related trade volume.

By John Harrington
DTN Livestock Analyst



Cattle: Steady with Wed Thur  Futures: mixed  Live Equiv $159.67 - 0.16*
Hogs: Steady                  Futures: mixed  Lean Equiv $95.64 + 0.44**

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

GENERAL COMMENTS:

   Although trade volume totals are not that large, it's possible that the cash
cattle market is done for the week. If more scattered are yet to shake out, it
seems more likely to happen in parts of the North and at prices steady with
those seen on Thursday (i.e., $208-210 dressed/$132-132.50 live). The May 1 on
feed report is scheduled to be released this afternoon at 11:00 CDT. Average
guesses look like this: on feed, 101 percent; placed in Aoril, 106.5 percent;
marketed in April, 101 percent. Look for live and feeder futures to open on a
mixed basis as traders position ahead of on feed news and the long weekend.
DTN

May 26, 2017 at 11:50am DTN Midday Livestock Comments


DTN Midday Livestock Comments          05/26 11:50

   Firm gains quickly moved into the market late Thursday morning as June live 
cattle posted triple-digit gains. The renewed buyer support is based on 
sluggish market activity, more than changing fundamentals developing across the 
complex. 

By Rick Kment
DTN Analyst

GENERAL COMMENTS: 

   Trade volume remains light to moderate across livestock futures as gains 
have quickly moved back into the complex. This has created a shift from the 
early trade direction, which pushed markets lower on fundamental market 
weakness in the cattle complex. Traders in the hog complex have moved away from 
the narrow pressure based on firming cash hog support, with gains developing in 
most nearby contracts. Corn prices are lower in light trade. July corn futures 
are 1 cent lower. Stock markets are higher in light trade. The Dow Jones is 76 
points higher while Nasdaq is up 45 points.

   LIVE CATTLE:

   Moderate-to-strong buyer support has quickly moved back into the cattle 
complex with front-month June futures posting firm triple-digit gains. This 
significant midday adjustment in livestock markets has little to do with market 
fundamentals, which still remain weak due to lower cash markets and mixed beef 
values but lack of overall market activity before the long holiday weekend. The 
shift from moderate pressure early through the session continues to create 
adjustments as the day continues. Cash cattle are untraded Thursday morning 
following light-to-moderate activity in both areas midweek. It is expected that 
movement in the South will be adequate for the week, but additional trade will 
be needed to be done through the North. Bids are developing in the North with 
prices seen at $130 to $132 live and $208 to $210 dressed basis. Asking prices 
on cattle left on show lists are $134 and higher live basis and $210 and 
higher. Cash business done earlier in the week are generally $2 per cwt lower 
in the South and $5 per cwt lower in the North. Beef cut-outs at midday are 
mixed, $0.43 lower (select) and up $0.07 per cwt (choice) with light movement 
of 59 total loads reported (22 loads of choice cuts, 25 loads of select cuts, 8 
loads of trimmings, 5 loads of ground beef). 

   FEEDER CATTLE: 

   Despite firm selling pressure early in the session, strong triple-digit 
gains quickly moved into the feeder cattle market, changing the course of 
market direction at midday. August futures have moved above $150 per cwt with 
prices seeing more than $1.50-per-cwt gains as traders are quickly adjusting to 
previous market losses and trying to adjust to market losses seen early in the 
week. An attempt to make an end-of-the-week rally and shift prices higher would 
not only help to sustain weekly chart prices, but would also mean adjusting 
monthly charts heading into the summer months. 

   LEAN HOGS:

   Following the lackluster interest seen through the morning, buyer support 
has moved into the lean hog complex as cash support has developed during the 
morning reports. This has moved all nearby futures contracts higher and sparked 
increased underlying commercial support through the complex. A fundamental move 
higher through the end of the month could bring increased technical and 
fundamental interest back into the market, which may bring even more upward 
market potential during the summer months. June futures are leading the complex 
higher, testing the market with prices reaching at $80.50 per cwt at midday. 
Cash prices are higher on the National Direct morning cash hog report. The 
weighted average price added $0.15 at $70.46 per cwt with the range from $65.00 
to $72.00 on 5,416 head reported sold. Cash prices are higher on the Iowa 
Minnesota Direct morning cash hog report. The weighted average price added 
$0.46 at $71.37 per cwt with the range from $65.00 to $72.00 on 1,206 head 
reported sold. The National Pork Plant Report reported 100 loads selling with 
prices adding $0.92 per cwt. Lean hog index for 5/23 is at $76.07 up $0.13 with 
a projected two-day index of $76.25 up $0.18. 

   Rick Kment can be reached at rick.kment@dtn.com 


(ES)

Copyright 2017 DTN/The Progressive Farmer. All rights reserved.

DTN

May 26, 2017 at 4:26pm DTN Closing Livestock Comment


DTN Closing Livestock Comment 05/26 16:26
   Cattle Futures Break Hard Given Bearish On-Feed News

   The cattle complex closed sharply lower right before the holiday recess,
pressured by long-liquidation and the negative implications of the May 1
on-feed report. On the other hand, summer lean hog contracts closed the week
with solid gains, supported by bull-spreading and ideas of strengthening
seasonal fundaments.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   The cash cattle trade was limited to scattered sales in parts of the North
at $132.50 live and $208.00-$210.00 dressed. The national hog base closed off
$0.75 compared with the Prior Day settlement ($67.00-$73.00, weighted average
$71.01). From Friday to Friday, livestock futures scored the following changes:
Jun LC Off $0.75; Aug LC Off $2.10; Aug FC Off $3.50; Sep FC Off $3.47; Jun LH
Up $2.32; Jul LH Up $1.73. Corn futures closed a nickel higher, supported in
part by reports of wide spread replanting activity. The stock market closed
narrowly mixed with the Dow off 2 and the NASDAQ up 4.
DTN

May 26, 2017 at 4:30pm DTN Chart Technical Points


DTN Chart Technical Points             05/26 16:30
DTN FUTURES  10       5/26/17                                   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 438.25 432.75 430.83 433.11 435.31 57.78 53.63 49.75  51  48 32 31
CBTWT    SEP 451.25 446.38 444.47 447.15 449.37 57.45 53.13 49.25  49  48 31 30
KC WT    JUL 437.50 433.00 431.44 437.31 435.78 53.25 50.73 48.41  44  45 25 28
KC WT    SEP 455.25 450.75 448.86 454.44 452.02 54.21 51.51 48.96  48  48 28 31
MN WT    JUL 568.75 561.56 554.08 550.85 545.26 70.11 64.35 57.72  91  86 71 57
MN WT    SEP 573.25 567.00 560.22 557.31 552.05 68.71 63.36 57.33  89  85 73 60
CORN     JUL 374.25 371.06 370.78 370.18 369.83 55.98 53.80 51.46  47  48 54 52
CORN     SEP 381.75 378.69 378.42 377.89 377.31 55.86 53.81 51.60  49  50 56 54
CORN     DEC 392.50 389.38 388.78 388.13 387.27 56.74 54.60 52.35  52  53 60 56
OATS     JUL 244.25 241.50 239.53 241.26 230.12 58.66 57.66 54.62  56  61 69 67
OATS     SEP 237.00 233.69 230.06 228.75 223.33 65.43 61.64 55.65  83  82 86 72
BEANS    JUL 926.50 940.63 952.08 960.82 961.92 26.49 31.45 36.93   9  15 10 20
BEANS    AUG 929.50 942.88 953.56 962.07 963.58 26.44 31.37 36.88   9  16 11 20
BEANS    SEP 927.75 940.56 950.81 958.63 960.04 25.90 31.00 36.88   8  15 10 20
S MEAL   JUL 301.80 304.80 308.20 312.14 314.28 26.42 32.13 38.35   7   6  2  5
S MEAL   AUG 302.90 305.95 309.23 313.01 315.11 26.08 31.88 38.29   6   6  2  5
B OIL    JUL  31.60  32.06  32.54  32.63  32.23 32.89 38.96 43.57   4  11 34 55
B OIL    AUG  31.71  32.17  32.64  32.72  32.33 33.04 39.07 43.65   4  11 35 56
CATTLE   JUN 122.70 122.96 122.94 124.70 118.82 48.16 52.61 57.96  48  50 30 38
CATTLE   AUG 118.95 120.40 120.16 120.84 114.83 46.63 51.85 57.79  38  53 49 55
FEEDER   AUG 146.95 149.56 149.58 151.33 144.56 43.12 47.88 53.98  31  49 34 40
FEEDER   SEP 146.75 149.56 149.54 151.04 144.41 42.70 47.74 54.21  30  50 34 41
HOGS     JUN  81.82  80.78  79.86  78.41  74.80 83.44 74.91 62.81  89  86 96 95
HOGS     JUL  81.90  80.59  80.04  78.72  75.42 80.17 73.22 62.82  82  78 93 94
COTTON   JUL  77.09  77.25  78.62  78.93  78.31 40.26 43.86 47.71   6   5 11 20
COTTON   OCT  75.18  74.47  75.28  75.45  75.01 49.33 49.57 50.70  43  25 18 26
RICE     JUL  10.98  10.97  10.91  10.54  10.27 65.23 64.31 60.61  65  70 93 93
RICE     SEP  11.23  11.22  11.16  10.79  10.51 65.48 64.71 61.15  63  69 93 93

DTN

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

DTN