Grains Under Pressure Early Thursday
December corn was unchanged, November soybeans were down 1 cent, and July Kansas City wheat was down 5 cents.
Cattle Paper Likely to Open Significantly Lower
Look for live and feeder futures to open under pressure, checked by sharply lower feedlot sales and long liquidation. Hog paper should open mixed, higher front issues and lower back contracts.
Corn, Soybeans Lower Tuesday; DDG Prices Mixed
Strength in the US dollar put pressure on corn and soybeans along with beneficial Midwest forecasts.
Lower Milk Receipts at Milk Plants
Class III futures tried to rally Wednesday after barrel cheese price increased, but contracts closed steady to lower across the board. Positive price action in barrels was offset by lower blocks and butter. USDA will release the May Cold Storage report Thursday and it is likely to show an increase of inventory of cheese and butter stocks from April.
Ethanol Futures Weaken Midweek
Continued selling developed in ethanol futures as pressure was seen in energy and corn markets. The additional underlying pressure that has limited overall buyer support across the market has created follow-through pressure through the market and will bring about additional market softness through the next couple of weeks.
Fertilizer Prices Hold Steady Second Week of June
Retail fertilizer prices held fairly steady the second week of June 2017, continuing a trend of little movement that has been seen over the past several weeks.
Cotton Reverses off Early Gains to Close Lower
December fell to lower price since Oct. 12. Rain chances improved on the Texas Plains and Tropical Storm Cindy was expected to make landfall Thursday near the Louisiana-Texas state line.
General Weakness Across Commodity Sector
Corn ended 1 to 1 1/2 cents lower, spring wheat finished 4 1/2 to 7 1/2 cents lower, soybeans ended 9 to 11 cents lower and canola settled $3.90 to $4.10/mt lower.