Not many changes to Brazil corn, soybean estimates by CONAB

Brazil’s equivalent to the USDA made minor adjustments to its soybean and corn production projections. CONAB now has Brazil’s bean crop at 177.124 million tons, 0.3% below November due to a small cut in planted area, but up 3.3% on the year and still record large. The total corn crop guess of 13.879 million tons…… Continue Reading

Cattle futures higher, waiting on direct business

At the Chicago Mercantile Exchange, live and feeder cattle were higher, waiting for direct business to develop. February live cattle closed $1.57 higher at $228.52 and April live cattle closed $1.47 higher at $228.37.  January feeder cattle closed $2.87 higher at $338.37 and March feeder cattle closed $2.67 higher at $332.82.  Direct cash cattle trade…… Continue Reading

Milk futures up, cash dairy steady to higher at midweek

Milk futures closed higher and cash dairy finished steady to higher Wednesday. January Class III milk futures on the Chicago Mercantile Exchange closed 13 cents higher at $15.35.  February up 6 at $$15.40.  March gained 7 cents closing at $15.79.  April through June contracts 5 to 6 cents higher. Dry whey up $0.0150 at $0.76…… Continue Reading

Soybeans recover some losses as corn gives back some gains

Soybeans were modestly higher on short covering and technical buying. The trade continues to monitor the mostly favorable crop weather in South America. CONAB’s updated outlook for Brazil is out December 11th, while the USDA’s next round of supply, demand, and production numbers is set for January 12th. Ahead of Wednesday’s open, China purchased 136,000…… Continue Reading

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