 |
|
|
|
Market Data
References
News & Commentary
Weather
|
AgriCharts Market CommentaryDo you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily. Corn Pressured by Wheat on MondayCorn futures ended the Monday session with most contracts 3 to 4 cents lower, as the 2019 contracts out to Sept hit contract lows. Losses in the wheat complex pressured the market lower. Weekly data from USDA showed 1.353 MMT of corn shipped in the week of April 18. That was 14.33% larger wk/wk but still 22.15% below the same week last year. After the close USDA indicated that 6% of the US corn crop was planted, on the low end of estimates. That is just half of the average pace for this point but 1% faster than last year.
--provided by Brugler Marketing & Management Soybeans Lower on Monday, Pressured by Weak ExportsSoybean futures saw 3 1/2 to 4 cent losses in the front months on Monday. Meal futures were down 70 cents/ton, with May soy oil 10 points lower. This morning’s Export Inspections report indicated 382,298 MT of soybeans shipped in the week that ended on 4/18. That was 19.73% lower than last week and 19.07% below a year ago. Just one cargo of 67,113 MT was destined for China. The weekly Crop Progress report showed that just 1% of the US soybean crop has been planted as of Sunday, lagging the 2% average. Ahead of Wednesday’s Stats Canada report, analysts estimate 2019 canola acreage to total 21.8 million acres, which would be down 1 million from last year.
provided by Brugler Marketing & Management Wheat Lower on Favorable WeatherWheat futures closed with 5 to 14 cent losses on Monday. KC and MPLS posted new lows in several contracts. The 7-day QPF shows heavy rainfall in parts of TX and OK over the next week. Parts of KS, CO and NE saw rains last night into this morning. After the close, NASS showed winter wheat conditions improving 2% to 62% gd/ex and 5 points on the Brugler500 index to 366. The crop was also seen at 9% headed, vs. the 18% average and 12% last year. The spring wheat crop was shown at 5% planted lagging most estimates. That was well below the 22% average but above 3% from last year. Wednesday’s Stats Canada report is expected to show 24.8 million acres of all wheat for 2019, slightly higher than the 27.73 million from 2018. Durum is expected to be down 1 million acres to 5.2 million acres.
--Provided by Brugler Marketing & Management Cattle Lower After Last Weekâs COF ReportLive cattle futures were down 80 cents to $1.10 on Monday, with front month April down a tick. This was fallout from the Cattle on Feed report. Feeder cattle futures were 72.5 cents to $1.425 lower on Monday. The CME feeder cattle index was down 14 cents to $145.97 on April 19. Wholesale boxed beef prices were higher on Monday. Choice boxes were up 83 cents at $234.48, with Select boxes $2.15 higher @ $222.64. USDA estimated Monday’s FI cattle slaughter at 114,000 head. The monthly USDA Cattle on Feed report showed the largest April 1 On Feed since the reporting series began in 1996. Numbers were up 2% from 2018, with March placements 4.8% larger than the same month a year ago. The monthly Cold Storage report from NASS showed frozen beef stocks as of March 31 at 450.657 million pounds. That is down 4.92% from February and a 2.87% lower than last year.
---provided by Brugler Marketing & Management Hogs Lower as ASF Continues to SpreadLean Hog futures settled with 70 cent to $2.125 losses on Monday. China confirmed ASF cases on Hainan Island, which is more than 200 miles offshore and had been thought to be relatively safe. The CME Lean Hog Index was up another 39 cents from the previous day @ $81.02 on April 18. The USDA pork carcass cutout value was up 62 cents in the Monday afternoon report, at $87.86. The loin and belly primals were reported lower. The national average base hog was $79.89, down $1.05. Estimated FI hog slaughter for Monday was 324,000 head, as some plants experienced some down time. Frozen pork stocks at the end of March were reported at 610.129 million pounds this afternoon. That is slightly lower than the same month last year and a drop of 0.9% from February. Belly stocks were seen at 58.788 million pounds.
--provided by Brugler Marketing & Management Cotton Mostly Higher on MondayCotton futures were 17 to 22 points lower in most nearby contracts, with nearby May down 12 points. The dollar was weaker today, with crude oil up $1.82/barrel, supporting cotton via synthetics. After the closing bell, USDA showed US cotton acreage at 9% planted, a 2% move from last week. That was even with the average and down from 10% last year. The Cotlook A Index was up 50 points at 88.25 on April 18. The new weekly Average World Price (AWP) is 68.88, effective through Thursday.
--provided by Brugler Marketing & Management Market Commentary provided by: |
||||||||||||||||||||||||||
|
|
