Chicago Board of Trade wheat futures hit contract lows on Thursday as low prices for Black Sea wheat and a stronger dollar undercut the competitiveness of U.S. grains, analysts said.
Chicago Mercantile Exchange (CME) live and feeder cattle futures ticked higher on Thursday on a spree of bargain buying as industry players believed cattle futures were oversold, analysts said.
Chicago Board of Trade wheat futures Wv1 fell on Wednesday as heavy world supplies and cheap Black Sea exports weighed on prices, ahead of a potential Canadian rail stoppage on Thursday.
Chicago Mercantile Exchange (CME) live and feeder cattle futures took a steep dive on technical selling on Tuesday, analysts said, while lean hogs ticked down following cattle's slide.
For the week ending August 17, Western Canadian feeder cattle prices were $3-$5 lower on average. Three weeks ago, 1,000 pound steers off grass reached up to $340/cwt. This past week, these same cattle were quoted in the range of $315-$325/cwt.
Chicago Mercantile Exchange (CME) live cattle futures bounced back on Monday after a slow previous week, while feeder cattle futures dipped on corn's Chicago Board of Trade (CBOT) climb.
Chicago soybean futures rallied on Monday, recovering from nearly four-year lows as traders waited to see if a major field tour this week will support expectations of bumper U.S. yields.
Chicago Mercantile Exchange (CME) live and feeder cattle futures fell in a spate of range-bound trading on Friday, with back-month feeder contracts setting new lows as funds shed their positions, traders said.