Chicago Mercantile Exchange cattle futures made gains today as trends indicate that while contracts have backed away from record highs, market fundamentals remain solid.
Chicago corn futures ticked up in rangebound trade on Thursday as stout export sales, weather concerns in Argentina and strong demand added support, analysts said.
As U.S. farmers grapple with soaring debt and slumping incomes, some crop producers are trading their tractors for flocks of sheep, and starting up solar grazing businesses to help make ends meet.
U.S. grains merchant Archer-Daniels-Midland is making a fresh wave of job cuts this week at its largest unit, the grain trading and oilseed processing division, according to three sources briefed on the matter.
Chicago soybean futures sank to life-of-contract lows on Tuesday as favorable crop conditions in Brazil and weak Chinese demand for U.S. soybeans hung over the market, traders said.
Soybean futures eased on Monday on forecasts for rain in dry areas of top exporter Brazil and Argentina and on rising United States supplies as clear Midwest weather boosted harvesting.
Chicago Mercantile Exchange feeder cattle futures dropped on Wednesday, while live cattle rose in a turnaround from losses during the previous session, according to analysts.
The European Union's sanctions on vessels transporting Russian grain, along with Turkey's wheat import ban, impacted Russian grain exports at the end of 2024, the country's central bank said on Thursday.
Chicago Mercantile Exchange live and feeder cattle futures rose on Wednesday as a strong cash market and a screwworm outbreak in Mexican cattle added support to futures, analysts said.