Chicago wheat and corn gained strength on Wednesday as the market monitored a hot, dry spell forecast in parts of North America, but gains were capped by sizeable global supplies.
Chicago Mercantile Exchange (CME) livestock futures turned higher on Tuesday, with cattle futures continuing to firm amid signals that cash market prices may ease, market analysts said.
The price rally in Chicago Board of Trade (CBOT) corn futures extended into a second day on Tuesday, with the most-active contract Cv1 reaching a two-week high, as traders began to focus on weather-related impacts on the U.S. crop and short-covering, market analysts said.
Chicago Board of Trade soybean futures jumped on Monday on a flurry of short covering, with prices rebounding from last week's 2020 lows as traders re-evaluated the U.S. political landscape after U.S. President Joe Biden abandoned his reelection bid on Sunday.
Chicago Mercantile Exchange (CME) cattle futures ended higher on Monday on technical trading, and as futures prices continued to hover well below the cash market levels, analysts said.
Stephen Nicholson, global sector strategist of grains and oilseeds for Rabobank, said the U.S. hard red winter crop is big and getting larger as the weeks tick by. On the surface that sounds like it would be bad news for Canada's spring wheat growers, but he said big yields often correlate to low protein levels for U.S. HRWW.
Chicago Mercantile Exchange (CME) nearby live cattle futures ended higher on Friday, amid technical trading ahead of a monthly government cattle supply report, analysts said.
Chicago Board of Trade wheat futures climbed on Friday on short-covering and concerns over weather in wheat-growing areas of the U.S. Plains and globally.
Chicago Mercantile Exchange (CME) live cattle futures closed lower on Thursday on technical selling as well as declines in Wall Street equity markets that raised concerns about consumer demand for beef, analysts said.
Chicago Board of Trade (CBOT) soybean futures rose on Thursday on bargain buying and signs of renewed export demand after the most-active contract Sv1 fell to a nearly four-year low in early trading, analysts said.