Chicago wheat futures fell to their lowest level in more than a week on Tuesday as improving U.S. crop condition ratings and seasonal pressure overshadowed early harvest delays and drought in Russia, traders said.
U.S. wheat futures fell about two per cent on Monday on seasonal pressure from the start of the Northern Hemisphere winter wheat harvest and corn futures sagged on mostly favorable crop weather, traders said.
Live and feeder cattle futures, as well as those for lean hogs, reached contract highs on the Chicago Mercantile Exchange on Friday. A new round of trade talks between the United States and China in London next week, as well as a solid jobs report from the Labor Department helped strengthen the markets, as well
Strength in cash markets caused live and cattle futures on the Chicago Mercantile Exchange to rise on Thursday, despite low export numbers reported by the United States Department of Agriculture.
Cattle futures on the Chicago Mercantile Exchange made substantial gains on Wednesday, aided by a weaker United States dollar. The August live cattle contract gained US$2.600 per hundredweight and ended the day at US$212.350. The August feeder cattle contract rose by a similar amount, gaining US$2.650/cwt. to close at US$303.875. The United States Department of
Cattle prices on the Chicago Mercantile Exchange slipped back on Tuesday despite earlier gains. The August live cattle contract rose to US$212.850 per hundredweight during the day, but eventually closed at US$209.750, a loss of US$1.250 compared to Monday’s close. The August feeder cattle contract also reached its highest price since May 13 at US$304.550/cwt.
Chicago wheat traded both sides of unchanged on Friday as the U.S. dollar showed some signs of weakness and the market continued to assess lower-than-expected crop ratings, according to analysts, but weather in growing regions was favorable.