Ag Market Commentary
Corn futures settled 3 to 5 cents lower. The weekly EIA report showed ethanol stocks up 500,000 barrels from the previous week, coming in at 18.3
Cotton futures rallied 162 to 164 points, with the strong US stock market feeding demand ideas and some shorts lifted to meet market calls from
Wheat futures closed lower. From wire reports, Ukraine is apparently slowing wheat exports while it tallies inventories of milling quality wheat to
Soybeans posted double digit losses today, with the exception of the nearby and old crop focused September contract. September was down 1/2 cent.
Hog futures settled $1.85 to $2.325 lower. Product values are still under pressure, with the average carcass cutout value FOB plant down $2.41 in
Cattle futures closed $1.25 to $2.00 lower, with packers pulling in their horns because of retreating beef prices and at least a temporarily