Chicago September corn CU24 plunged on Friday to contract lows after U.S. Department of Agriculture data showed far more acres planted with the grain than expected due to favorable spring weather.
Chicago Mercantile Exchange lean hog futures turned lower on Thursday, ahead of a quarterly government report that many traders had predicted would show that U.S. farmers had a slightly larger hog herd, traders said.
Chicago Board of Trade wheat held steady on Wednesday after notching a more than two-month low the day before on bargain buying and positioning ahead of the U.S. Department of Agriculture's acreage report.
Chicago Mercantile Exchange lean hog futures turned higher on Wednesday as fund investors adjusted their positions and sought short-covering, even as many contracts set new lows for a second trading day, traders said.
Grain futures at the Chicago Board of Trade (CBOT) are expected to decline after the United States Department of Agriculture (USDA) releases its prospective plantings and quarterly grain stocks reports on June 28.
Chicago Board of Trade (CBOT) soybean and corn futures fell on Tuesday as traders assessed the impact of flooding and heat on crops in the central U.S.
Analysts surveyed by Reuters project that quarterly USDA data will show the herd on June 1 was about 0.8 per cent bigger than a year earlier and that the number of pigs per litter was up 2.3 per cent in the March-May period.
Alberta and Saskatchewan heifer placements in the lighter weight categories are down from year-ago levels. Comments from ranchers and order buyers suggest that Western Canadian ranchers are holding back on heifers to expand the herd. This usually results in a narrowing of the steer/heifer spread.
Chicago Board of Trade (CBOT) soybeans rose on Monday as flooding hit the upper Midwest after a weekend of thunderstorms. Corn fell on acreage expectations ahead of a USDA report on Friday and wheat was down with analysts citing U.S. harvest pressure.