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Corn futures rallied early but closed lower on the day, with December corn at 3.9425 after several sessions below its 200-day moving average. Soybeans and soybean meal closed strongly higher on firm cash demand, while KC and MGEX wheat hit new contract lows.
Cattle and hog futures closed higher, and the article notes that USDA reports due Thursday could set the next trend.
Strong soybean and meal demand supports protein feed costs, while lower corn and wheat prices ease feed grain costs for buyers. Cattle and hog strength supports demand for feed in those sectors.
kyfb.comJun 28, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
