TFM Midday Update 11-24-2021

Happy Thanksgiving from all of us at Total Farm Marketing!
Thursday, November 25: The CME and Total Farm Marketing offices are closed.
Friday, November 26: The CME closes at noon, and Total Farm Marketing offices close at 1:00.



  • Dec corn down 1 @ 5.80
  • Corn rallied this morning but quickly sold off
  • March corn appears to be close to breaking out to the topside
  • Fears of interest rates and higher inflation keep traders cautious
  • Domestic demand for corn still very strong for a feed grain and ethanol production
  • US harvest should wrap up this week
  • Brazil’s crop 91% planted


  • November soybeans down 1 @ 12.52
  • Soybean exports still remain very weak despite today’s sale
  • Believe Brazil will over soybeans in Jan at a 70 cent discount to US
  • South American weather remains friendly except for S. Brazil
  • Soybean market finding support from domestic processor demand from strong crush numbers
  • Biofuel mandates are likely to be released any day now


  • Dec wheat down 15 @ 8.41, Dec KC down 7 @ 8.71, Dec MNPLS down 5 @ 10.32
  • Wheat higher in overnight but seeing a minor selloff midday
  • Still concerns in Australia due to rains diminishing quality of crop
  • US drought continues to be an issue and expected to expand
  • Russia’s wheat prices continue to rise along with their export tax
  • Dryness in Ukraine worth monitoring
  • US Dollar rising to new highs today


  • Dec cattle up 1.02 @ 136.425 & Jan feeders up 1.00 @ 165.52
  • Market up as cash traded $2 higher this week than last
  • Very little cattle forward contracted – packers willing to pay more
  • Cattle slaughter projected at 121K
  • Choice down 0.61 and select down 1.06
  • CME feeder cattle index for Nov 22: up 1.14 @ 157.43


  • Dec hogs up .650 @ 74.800 & Dec pork cutouts up .150 @ 90.000
  • Hogs finally seeing higher cash prices
  • Heavy supply of hogs continue to leave packers unaggressive in bids
  • Still believed long term supplies could tighten
  • Hog slaughter projected at 470K
  • CME lean hog index for Nov 19: up 0.58 @ 72.88


Amberlee Bratcher

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