Chicago Board of Trade corn Cv1 and soybean Sv1 futures rose on Thursday as news of tighter rules on industry tax credits in Brazil made traders and producers hopeful that it could boost U.S. export business, traders said.
Live cattle and feeder cattle futures closed mostly lower at the Chicago Mercantile Exchange on Thursday as slow sales of beef products such as hamburgers and steak weighed on prices, Altin Kalo, economist at Steiner Group, said.
Lean hog futures closed at their lowest price since January at the Chicago Mercantile Exchange on Wednesday as traders focused on a potential oversupply of U.S. pork heading into the summer barbecue season.
Wheat prices led the way as the July Chicago contract fell 46 cents per bushel at US$4.46. The July Kansas City hard red wheat contract dropped 43.5 cents at US$6.7625/bu., while the July Minneapolis spring wheat contract lost 39.5 cents at US$7.1250/bu.
Chicago benchmark wheat Wv1 futures fell on Wednesday for the sixth day in a row, as progress in the U.S. winter harvest weighed on prices and concerns eased over the Russian crop, traders said.
Chicago Board of Trade corn and soy dipped in choppy trade on Tuesday as traders weighed U.S. planting progress and strong corn ratings with adverse weather in importer Mexico and downgrades to soybean harvest forecasts in major exporter Brazil.
Lean hog futures dropped to their lowest price since January at the Chicago Mercantile Exchange on Tuesday as weakness in the Mexican peso fueled worries over demand in the biggest export market for U.S. pork, traders said.
Chicago Board of Trade corn and soybean futures fell on Monday on shaky demand, technical trading and expectations of strong seeding progress and crop condition for corn later in the day, traders said.
Chicago Mercantile Exchange (CME) lean hog futures ticked down on Monday as the Mexican peso fell, making it more expensive for Mexican importers to purchase U.S. pork.
Chicago Mercantile Exchange (CME) cattle futures turned lower for a third session on Friday, as technical trading at one point sent the most-active August live cattle LCQ24 contract dipping to a two-week low.