Row Crops Push Higher; Wheat Mixed
July corn closed up 6 3/4 cents and July soybeans were up 14 cents, both supported by strong domestic demand and ongoing concerns about dry weather early in 2021. Wheat prices ended quietly mixed, not showing much concern about this week's colder temperatures in the western Plains.
Cattle and Lean Hogs Close Starkly Different
The cattle contracts flounder through Monday's trade while the lean hog contracts didn't bat an eye at shooting higher at Monday's earliest opportunity.
Soybean Oil Pulls Soybeans Higher Friday
May soybeans closed higher Friday thanks again to the strength in soybean oil.
Futures Fail to Keep Pace With Cash
Class III futures closed mixed but mostly higher Monday. Cheese and butter prices provided some support, but traders remained cautious. Class IV futures found some strength on higher butter and nonfat dry milk prices.
Ethanol Futures Surge Monday
May ethanol futures closed sharply higher up 13 cents at $2.14 and June ethanol futures were up 13 cents at $2.14. May corn closed up 6 1/2 cents at $5.92 and July corn was up 6 3/4 cents at $5.80 1/2.
Nitrogen Prices Continue to Climb as Other Fertilizer Price Gains Cool
Average retail prices for anhydrous, UAN28 and UAN32 increased 10% to 11% the first week of April, while the price of the other five fertilizers tracked by DTN increased by less significant amounts.
Cotton Ends Lower Monday
The cotton market finished lower Monday, as into the waning moments of the trading session, both crop seasons settled in negative territory.
Row Crops Continue to Push Higher
Old-crop soybeans closed 12 3/4 cents to 16 1/2 cents higher, old-crop canola settled $1.10/mt lower to $7.90/mt higher, HRW closed 1 3/4 cents higher to 2 1/2 cents higher, SRW closed 1/2 cents lower to 1/4 cent higher, HRS ended 1 cent lower to 1 cent higher and corn closed 6 1/2 to 6 3/4 cents higher (old-crop)