CORN
- Dec up 2 @ 5.35
- US corn harvest is 52% complete (vs 41% average)
- Corn export inspections totaled 38.4 mb for last week
- Total inspections are around 160 mb – down about 25% from a year ago
- Dec corn has closed higher for three consecutive trading sessions
- Ethanol production margins are higher due to a rally in energy prices
SOYBEANS
- Nov up 13 @ 12.35
- US soybean harvest is 60% complete (vs 55% average)
- Soybean export inspections totaled 84.4 mb for last week
- Total inspections are around 215 mb – down about 50% from a year ago
- Nov soybeans have closed higher for 3 consecutive trading sessions
- Brazil soybean plantings are about 25% done
WHEAT
- Dec wheat up 8 @ 7.44, Dec KC up 5 @ 7.54, Dec MNPLS up 7 @ 9.75
- 70% of US winter wheat is planted (vs 71% average)
- Wheat export inspections totaled 5.1 mb for last week
- Total inspections are around 343 mb – down about 13% from a year ago
- Dec Chi wheat has closed higher for 3 consecutive trading sessions
- Fundamentals remain bullish with tight world stocks and lowered production
CATTLE
- Dec LC up 0.400 @ 130.825 & Apr FC up 0.325 @ 163.425
- The next Cattle on Feed report will be released on Friday
- Feeder cattle broke to the downside yesterday – higher placements are expected
- Cash cattle are expected to trade steady this week
- Choice cuts down 0.15 and select down 0.81
- Cattle slaughter projected at 121K
- CME Feeder Cattle Index for 10/18: up 0.55 @ 153.90
HOGS
- Feb hogs down 1.075 @ 80.700 & Feb pork cutout @ 94.975
- The gaps on the charts have yet to be filled completely
- Cash and cutouts continue to show weakness
- National Direct Afternoon report declined 0.09
- Hog slaughter projected at 477K
- CME Lean Hog Index for 10/19: down 0.71 @ 86.88