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Corn and wheat futures closed strongly higher on September 1, 2016, after eight straight days of lower closes, with traders citing short-covering and private crop estimates below USDA corn figures. Cattle futures crashed with October live cattle down the $3.00 daily limit, while lean hog futures rose to new highs since July.
Soybeans closed little changed.
Short-covering and smaller private corn estimates support grain prices, while cattle weakness reflects liquidation and falling cash trade. Hog strength diverges from the weak cattle complex.
kyfb.comSep 1, 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.
Confirms the $3.00 limit-down cattle crash on September 1 even as grains rallied, indicating the move was cattle-specific.
Confirms the $3.00 limit-down crash in October cattle on Sept 1, though the summary is a broad market wrap.
