Spring Wheat Leads Grains Higher Monday
December Minneapolis wheat closed up 9 1/2 cents Monday, leading grains to higher closes with dry weather concerns and demand for row crops continuing to support prices. December soybean oil was the only loss in the grain sector, ending down 0.46 cent with likely pressure from noncommercial selling.
Cattle Contracts Wrestled With Monday
All three livestock markets closed lower Monday with both live cattle and feeder cattle markets using the market's new limits.
Corn Slightly Higher Friday; DDG Prices Firm
December corn was fractionally higher on Friday but posted a 7-cent gain for the week.
Strong Fluid Milk Demand
December Class III futures closed limit up. November traded limit up for a period of time but closed off limit at the end of the day. Cheese price continues to advance as buyers remain aggressive. June fluid milk sales were 5.4% above a year ago.
Ethanol Futures Start the Week Higher
November ethanol futures were up 2.9 cents at $1.469 and December ethanol futures were up 2.9 cents at $1.444. December corn closed up 5 1/4 cents per bushel at $3.96 1/2 and March corn was up 3 1/4 cents at $402 1/2.
Stronger Crop Prices, Favorable Fall Application Weather Seen Boosting Wholesale Fertilizer Prices
Recent stronger crop prices and expected favorable weather for the fall application season are likely to support domestic wholesale fertilizer prices in the short term.
Cotton Sharply Higher, Driven by Chart
The cotton market cleared overhead resistance Monday to close above the all-psychologically important 70-cent level.
Canola Closes Lower Despite Weak Veg Oil Close
Soybeans ended 3 3/4 to 4 1/4 cents higher, canola ended $0.30 per metric ton (mt) to $6.10/mt higher, corn closed 3 1/4 to 3 3/4 cents higher, SRW finished 1 3/4 to 3 1/2 cents higher, HRW settled 3 3/4 to 4 1/4 cents higher and HRS settled 7 to 9 1/2 cents higher.