Chicago soybeans ticked lower on Tuesday as expectations for rain relief in Argentina encouraged profit-taking, after drier forecasts and a softer dollar fueled gains during the previous session.
Cattle futures at the Chicago Mercantile Exchange continued to rise Tuesday. Most active February live cattle futures ended up 0.375 cents per pound at 195.575 cents a pound. Values hit fresh highs in many months, although ideas the market was looking overbought tempered the advances.
Chicago Board of Trade corn futures Cv1 on Monday surged to a more than six-month high amid growing concern over dry conditions in Argentina, market analysts said.
Live cattle futures on the Chicago Mercantile Exchange were stronger Monday, hitting fresh contract highs in many months as forecasts calling for cold temperatures across United States ranching areas raised concerns over reduced weight gains for grazing cattle.
Chicago Mercantile Exchange (CME) feeder cattle futures reached life-of-contract highs, while live cattle futures hit multi-month peaks on Thursday, as meat packers struggled to find inventory, analysts said.
Chicago soybean and corn futures were higher in see-saw trading on the first trading day of 2025, supported by ongoing concerns related to dry weather in South America, especially Argentina, a leading producer of both commodities.
Chicago Mercantile Exchange (CME) lean hog futures fell to two-month lows on Tuesday, as traders squared positions before the year's end and uncertainty lingered over export demand in the coming months, market analysts said.
Chicago soybean, corn and wheat futures rallied on Tuesday on short-covering and concerns over weather conditions in South America and Russia, market analysts said.
Chicago Mercantile Exchange (CME) lean hog futures fell to two-month lows on Monday, hit by profit-taking and growing uncertainty over domestic and export demand in the coming months, market analysts said.