DCE Live Hog Sep '23 (YKU23)
DCE Live Hog Futures Market News and Commentary
Soybeans are showing 1 to 3 cent gains at Thursday’s midday. The cmdtyView national average Cash Bean price is up 3 1/4 cents at $10.97. Soymeal futures are up $2.30 to $3.50 on the day, with Soy Oil futures down 30 to 35 points on the day. Crude oil is back up $3.21 so far on Thursday.
USDA released their monthly WASDE report this morning showing a few changes in the demand projections, with a 35 mbu increase to crush. Exports were trimmed by 35 mbu to take the overall change in the carry out to 0 at 350 mbu. The cash average price was up a dime to $10.30.
South American output from the two main players was left unchanged, at 48 MMT for Argentina and 180 MMT for Brazil. World stocks were trimmed by 0.52 MMT to 124.79 MMT.Â
Export Sales data from this morning, as USDA tallied 295,403 MT of old crop bean business in the week of 4/2, in the middle of trade estimates of 200,000-600,000 MT. That was the second lowest total for the marketing year, but still 71.42% above... Read more
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