Soybean Oil Shows Grit on Quiet Day, Closes Higher
In a quiet pre-holiday session in the grain sector, most contracts finished mixed with a couple of exceptions. The largest percentage gain was in January soybean oil, closing up 0.47, while the largest percentage loss belonged to a 12 1/4 cent loss in December oats.
Cattle Futures Close Moderately Higher, Buoyed by Ideas of Steady-to-Firm Feedlot Sales
The cattle complex closed with a firm undertone thanks to late-session short-covering and friendly on-feed news. Lean hog contracts finished moderately lower, checked by profit-taking and overbought deferreds.
Soybeans Turn Higher Tuesday; DDG Firm
Soybeans were higher as some fresh export business announced by the USDA in the morning gave the market something to cheer about.
American Cheese Stocks Increase
Class III futures closed lower for the day and put in a very negative week. Futures fell in reaction to the decline of cheese prices. The October Cold Storage report showed declines in all categories except American cheese, which resulted in more pressure on milk futures.
Ethanol Futures Rally on Inventory Shift
Ethanol stocks fell for the first time in three weeks based on strong blending demand and lower production at the end of last week. This posted strong gains in all ethanol futures trade despite lackluster interest in the corn market.
Anhydrous Leads Fertilizer Prices Higher Again
All retail fertilizer prices except 10-34-0 moved higher the second week of November 2018. Leading the way higher was the price of anhydrous, which was up 5% from last month.
Cotton Posts New Lows Into Close
March cotton was sharply higher Wednesday, encouraged by short-covering ahead of the Thanksgiving Break and improving outside markets.
Canola Ends Higher With Palm and Soy Oil
Spring wheat ended 1 1/4 to 2 1/4 cents higher while hard red winter wheat ended 4 to 4 1/4 cents lower, corn ended 1/2 to 3/4 cents higher, soybeans finished 2 to 2 1/4 cents higher and canola finished $1.70 to $1.90 per metric ton higher.