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Commodity News

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Tue, Jul 9th, 2024
Wheat Manages Modest Gains on Tuesday

The wheat markets found some strength across the three exchanges on Tuesday, though action late in the day saw some pulling off the highs. Chicago futures were steady to 1 ½ cents higher across most contracts....

ZWN24 : 554-2s (+0.23%)
ZWU24 : 569-6 (-0.39%)
KEN24 : 581-0s (+1.31%)
KEU24 : 575-2 (-0.43%)
MWN24 : 621-0s (unch)
Cotton Falls Lower on Tuesday

Cotton futures saw losses of 15 to 50 points on Tuesday, as contracts were pressured lower. The outside factors were in play, with crude oil down 51 cents and the US dollar index up 137 points. The NASS...

CTN24 : 66.96s (-0.53%)
CTV24 : 69.27 (+0.20%)
CTZ24 : 70.45 (-0.14%)
Hogs Head Lower on Tuesday

Lean hogs posted Tuesday losses of $1 to $1.90, as July was down 35 cents at the close. The USDA National Base Hog price was reported at $90.72 on Tuesday afternoon, up 9 cents from the Monday print. The...

HEN24 : 89.325s (-0.39%)
HEQ24 : 88.400s (-1.26%)
HEV24 : 70.775s (-2.41%)
Cattle Slides as Boxed Beef Print Falls

Live cattle were holding up for much of the session until USDA’s midday Boxed Beef print was released. They close with losses of $1.45 to $2. Cash action has yet to be reported this week as it was light...

LEQ24 : 182.350s (-1.08%)
LEV24 : 183.300s (-1.08%)
LEZ24 : 185.375s (-1.00%)
GFQ24 : 255.725s (-1.33%)
GFU24 : 256.825s (-1.46%)
GFV24 : 257.200s (-1.35%)
Soybeans Fall on Product Pressure

Soybeans were pressured lower on Tuesday as the product values were hit with weakness. Bean contracts were down 12 ¼ to 19 ¼ cents at the close. Soymeal saw 20 cent to $4.70 lower trade across most contracts,...

ZMZ24 : 318.3 (-0.13%)
ZLZ24 : 45.82 (-1.06%)
ZSN24 : 1161-4s (-1.09%)
ZSPAUS.CM : 10.9392 (-1.61%)
ZSQ24 : 1128-0 (-0.29%)
ZSX24 : 1073-4 (-0.60%)
ZSPX24US.CM : 10.1880 (-1.89%)
Corn Holds onto Gains on Tuesday

Corn futures felt some late session pressure that took contracts off the highs, as contracts were fractionally higher across most contracts, with soon to expire July up 4 ½ cents. The remnants of Beryl...

ZCN24 : 400-2s (+1.14%)
ZCPAUS.CM : 3.8206 (+0.44%)
ZCU24 : 393-6 (-0.06%)
ZCZ24 : 407-2 (-0.31%)
ZCPZ24US.CM : 3.7870 (+0.23%)
Grain Spreads: Funds Record Short

Funds Add on Breaks

Shootin' the Bull about boxes dropping

The 4th of July holiday is believed the last spending spree until Christmas for consumers.  Boxes fell off sharply at mid day and energy prices lower as well.  The Fed continues with policy to curb inflation...

Cattle Future Get Hit Hard Midday

Cattle futures were relatively quiet in the early morning trade then rolled over hard midday, sending prices sharply lower and down to significant support levels. Will they hold?

Dollar Firms as Powell’s Comments Boost T-note Yields

The dollar index (DXY00 ) Tuesday rose by +0.13% on higher T-note yields. However, Tuesday’s rally in the S&P 500 to a new record high curbed some liquidity demand for the dollar. Fed Chair Powell...

DXY00 : 105.121 (-0.01%)
^EURUSD : 1.08172 (+0.04%)
^USDJPY : 161.482 (+0.10%)
GCQ24 : 2,374.4 (+0.27%)
SIU24 : 31.180 (+0.40%)

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McDonald's $MCD closes at lowest price since October 2022 https://t.co/s3RmGwbn4c
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Tesla $TSLA hits most overbought level since June 2023 https://t.co/dlFkQFQGl2
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Arabica Coffee (i.e. the good stuff) is approaching a 13-year high https://t.co/rWUvsByyFd
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Lumber falls to lowest price since January 2023 🚨 https://t.co/D2dzX14NVK
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Equity Put/Call ratio drops to lowest level in 12 months https://t.co/XIcZM7KXIV
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France's New Popular Front party, which secured the most seats in last weekend's election, plans to introduce a 90% tax on those making over 400,000 euros https://t.co/l15RlLADYG
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Walgreens $WBA does it again, a new 27-year low. The stock has now traded red in 10 of the last 11 days. Horrendous! https://t.co/wArNoyVx8z
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Nvidia Insider Trading Alert 🚨 CEO Jensen Huang just sold $30.7 million worth of $NVDA shares bringing his total sales over the last month to just under $250 million. https://t.co/5foSggacui https://t.co/xnphzgKCOV
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Tesla $TSLA, the unstoppable machine, has now posted its 10th consecutive green day, its longest winning streak since June 2023 https://t.co/jXN8nCsG8V

Chart of the Day

National Healthcare Corp (NHC)

The Chart of the Day belongs to the skilled nursing facilities company National HealthCare (NHC) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used...
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