11/13/23
The Grain complex and the meats were all higher today. January’24 Soybeans tried to test last week’s high, and the 1-month high of 1384 ½ all day today but stalled out each time, until todays close, when they traded 1386. January’24 Soybeans settled today at 1382 ½, that’s a gain of 35 cents. Over the last month (since 10/13) January’24 Soybeans are up 82 cents or over 6%. December’23 Corn was 13 ¼ cents higher today and settled at 477 ¼. Over the last five days (since 11/6) December’23 Corn is unchanged. Today’s low in December’23 Corn was 461, that is also the 1-month and 52-week low. December’23 Wheat gained 3 ¾ cents today and settled at 579. Over the last month (since 10/13) December’23 Wheat has eked out a gain of just ¾ of a cent. YTD December’23 Wheat is still down $2.41 ¼ cents or almost 30%. December’23 Live Cattle gained 0.750 today and settled at 174.925. Over the last month (since 10/13) December’23 Live Cattle is down 11.675 or more than 6%. The Feeders were also higher today. January’24 Feeder Cattle rose 1.875 today and settled at 228.300. In the last month (since 10/13) January’24 Feeders are down 24.225 or almost 10%. Lean Hogs also joined the rally today. December’23 Lean Hogs gained 1.450 and settled at 73.350, near the session’s highs. Today’s high in December’23 Lean Hogs was 73.800, just below the 1-month high of 74.275. My long-term outlook still has not changed. I am still bearish the Soybean and Cattle markets.
Bill Allen
Senior Account Executive
Direct: 1 312 957 8079
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