Hogs Fall Triple Digits at Months End - February 26, 2021

Lean hog futures were weaker in the afternoon, and closed near the lows on the day. The triple digit losses for April through June limited the front months’ weekly gain to 2.3%. April hogs closed at $87.15 after beginning the month at $76.90. The CME Lean Hog Index was $79.95...

Cotton Heads for March on Weakness - February 26, 2021

The last Friday of February left front month cotton futures 42 to 86 points weaker. Closing the month at 87.82 for March and 88.83 for May, that was a monthly gain of 7.14 and 6.9 cents respectively. New crop December futures are now a 4.50 discount to front month May,...

Soy Extended Losses on Friday - February 26, 2021

Soybean futures firmed up after double digit losses at midday, closing the Friday session down 3 1/4 to 9 cents. May soybean futures ended the week 1.76% above last Friday’s close, but a 3.9% gain from the end of January. The oldest long for March beans is October 7, 2020,...

Wheat Stayed Weak for Close - February 26, 2021

Despite afternoon rallies for corn and beans, wheat futures closed near the lows. For SRW the 13 1/4 to 16 3/4 cent losses left the board at $6.55 March and $6.60 1/4 for May. SRW futures began the month near $6.61. HRW prices closed $6.24 3/4 for March and $6.33...

Corn Fades at Month End - February 26, 2021

Afternoon position squaring pulled the corn complex off the lows at the close for month end. Front month futures were still mostly weaker on the day with 2 1/4 to 4 3/4 cent losses. March futures closed at $5.55 1/2 after a 3/4 cent higher close. From Friday to Friday,...

Feb Cattle Collapse at Expiration - February 26, 2021

Cash convergence caused a $3.90 drop to $113.10 for Feb finished cattle futures to expire. CME reported another 10 deliveries scheduled for February cattle futures, scheduled deliveries total 99 contracts, though there were 250 issued. The other front months ended the day with $1.07 to $1.67 losses, with April holding...

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