By: Patrick McRae – Cattle markets closed positive on the day and are still keeping their momentum higher since their recovery last week. Average cattle on feed estimates were published today and the trade sentiment is looking for on feed to be at 104%, placements at 99%, and marketing’s at…
Commentary
Commitments of Traders Analysis – Corn Only
By: Jeff Kaprelian – Corn Commercials were net buyers of 14,987 contracts on increasing open interest last week. They added 41,516 new longs and 26,529 new shorts. Funds were net sellers of 13,348 contracts after a reduction in longs. COT indices are at middle of the road levels. We had…
Afternoon Grain and Cattle Recap
By: Patrick McRae – Grain markets traded mixed on the day with soybeans once again finding some trump trade talk support. Wheat markets are still chopping around sideways apparently debating on forming a bottom, and the corn market pressed lower against some prior lows to promptly close above them. Planting…