Wheat Leads Strength on Brazilian Buying Comments, Firm Cash
May corn is up 1/2 cents per bushel, May soybeans are down 1 1/2 cents, and May K.C. wheat is up 5 cents.
Firm Buying Draws Feeder Cattle Trade
Triple-digit gains Tuesday in feeder cattle has the potential to spark additional interest midweek in all cattle markets. Hog futures are focused on maintaining stability at recent high prices.
Soybeans, Corn Start the Week Lower; Feed Prices Steady
Soybeans and corn started the week lower, still under pressure from good crop weather in South America.
U.S. Milk Production Slows
Class III futures are indicating mixed trading activity for the day. It seems the market is settling into a sideways pattern again. The rebound Tuesday kept the market from further bearish movement. The Milk Production report didn't seem to have any impact on the market.
Ethanol Futures Turn Lower Tuesday
Ethanol futures were down 1.5 cents in the April contract at $1.40 and down 1.5 cents in the May contract at $1.39. Corn closed down 1/4 cent in the May contract at $3.71 1/4 and down unchanged in the July contract at $3.80 3/4.
Majority of Fertilizers Are Lower
Average retail prices for five of the fertilizers DTN tracks were slightly lower than last month, while two were slightly higher.
Cotton Higher, Pushed By Technicals
The cotton market finished higher Tuesday as speculators following the lead of several popular technical indicators.
Spring Wheat Diverges From Grains, Ends Higher
Old-crop HRW ended 3/4 cent lower; old-crop SRW was 1/4 cent lower; spring wheat finished 1 1/4 to 4 1/2 cents higher; corn settled unchanged to 1/4 cent lower; soybeans ended 1 1/4 to 1 3/4 cents lower; canola closed $1.80 to $2.10/mt lower.