AgriCharts Market Commentary

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Corn Market News and Commentary

January 18, 2019

Corn futures saw most contracts steady to 2 cents higher on Friday. March futures were up 0.93% on the week that saw a couple sizable swings. Higher ethanol prices supported the market on Friday. The government shutdown is now in day 28, as the CFTC Commitment of Traders report will not be release until funding is restored. The markets will be closed on Monday for Martin Luther King Jr. Day. Brazil’s first corn crop harvest is estimated at 1% complete according to AgRural.

Mar 19 Corn closed at $3.81 3/4, up 1 3/4 cents,

May 19 Corn closed at $3.90, up 2 cents,

Jul 19 Corn closed at $3.97 1/4, up 1 3/4 cents

Sep 19 Corn closed at $3.99 3/4, up 1 1/4 cents

--provided by Brugler Marketing & Management

Soybeans Market News and Commentary

January 18, 2019

Soybean futures posted 8 to 9 cent gains in most nearby contracts on Friday, with March 0.71% higher this week. Soymeal futures were up $2.90/ton, with soy oil 24 points higher. Several Trade War rumors helped to support the market later in the week. We regard these as trial balloons for the next negotiating round at the end of the month. The markets will re-open on Monday evening for the normal overnight trade. AgRural estimates that the Brazilian soybean harvest is 6.1% complete, compared to the average at 1.2%.

Mar 19 Soybeans closed at $9.16 3/4, up 9 cents,

May 19 Soybeans closed at $9.30, up 9 cents,

Jul 19 Soybeans closed at $9.42 1/2, up 8 1/2 cents,

Sep 19 Soybeans closed at $9.49, up 8 cents,

Mar 19 Soybean Meal closed at $315.10, up $2.90,

Mar 19 Soybean Oil closed at $29.01, up $0.24

--provided by Brugler Marketing & Management

Wheat Market News and Commentary

January 18, 2019

Wheat futures ended the Friday session with most contracts steady to 2 1/4 cents higher. A higher dollar limited those gains with some follow through from buying on Thursday. Nearby CBT was down 1 3/4 cents this week, with KC up 1 1/2 and MPLS 0.75% higher. There is also a little talk about potential winter kill on winter wheat, but percentage of the crop with snow cover and the actual low temps observed on bare fields will be the determinants. The Philippines reportedly purchased 85,000 MT of wheat in tenders this week.

Mar 19 CBOT Wheat closed at $5.17 3/4, unch,

Mar 19 KCBT Wheat closed at $5.06, up 2 cents,

Mar 19 MGEX Wheat closed at $5.74 1/4, up 2 1/4 cents

--provided by Brugler Marketing & Management

Cattle Market News and Commentary

January 18, 2019

Live cattle futures closed with 35 to 65 cent gains in most contracts, with nearby Feb down 57.5 cents. Feb was up 1.24% this week. Feeder cattle futures were steady to 30 cents higher, as March was a dime lower. Jan was down $3.20 on the week. The CME feeder cattle index was down $1.04 on January 17 at $142.05. Wholesale boxed beef prices were higher on Friday afternoon, with the Ch/Se spread tightening to $3.70. Choice boxes were up 65 cents at $212.15, with Select $1.95 81 at $209.45. USDA estimated week to date FI cattle slaughter at 620,000 head through Saturday. That is 6,000 head below last week and 7,000 head larger than the same week last year. Cash trade was mostly seen around $124 on Friday afternoon.

Feb 19 Cattle closed at $126.525, down $0.575,

Apr 19 Cattle closed at $127.375, up $0.475,

Jun 19 Cattle closed at $117.450, up $0.625,

Jan 19 Feeder Cattle closed at $141.450, up $0.025

Mar 19 Feeder Cattle closed at $142.825, down $0.100

Apr 19 Feeder Cattle closed at $144.400, up $0.175

--provided by Brugler Marketing & Management

Lean Hogs Market News and Commentary

January 18, 2019

Lean Hog futures posted 37.5 cent to $1.65 gains in most contracts on Friday. Feb was down 2.27% this week. The CME Lean Hog Index was up 16 cents from the previous day @ $58.18 on January 16. The USDA pork carcass cutout value was down 13 cents on Friday afternoon at an average weighted price of $69.97. The national base cash hog carcass value was 41 cents higher in the PM report, with a weighted average of $51.81. FI hog slaughter WTD was estimated at 2.508 million head through Saturday, which is 48,000 below last week.

Feb 19 Hogs closed at $61.225, up $0.375,

Apr 19 Hogs closed at $66.275, up $1.650

May 19 Hogs closed at $72.025, up $1.400

--provided by Brugler Marketing & Management

Cotton Market News and Commentary

January 18, 2019

Cotton futures were 20 to 48 points lower in most contracts on Friday. Nearby March was up 1.93% this week. Traders were taking profits ahead of the long weekend, with pressure also from a higher US dollar. The markets will be closed on Monday in observance of Martin Luther King Jr. day. The Cotlook A Index was up 100 points on January 17 to 82.90 cents/lb. USDA showed that 14.949 million bales of upland cotton have been classed as of January 17, with the total including Pima at 15.545 million bales. Estimated AWP was 63.06 last week, and computes to 64.07 for the coming week.

Mar 19 Cotton closed at 73.890, down 48 points,

May 19 Cotton closed at 75.320, down 34 points

Jul 19 Cotton closed at 76.590, down 20 points

--provided by Brugler Marketing & Management


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com