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Futures
Quotes are delayed, as of June 22, 2021, 09:14:35 AM CDT or prior.

Commentary
Cattle Futures Lower Despite Discount to Cash
Live cattle futures closed mostly 25 cents to 52 cents lower on Monday. June was down just 7 cents to $120.97, due to a strong basis. CME data showed no deliveries against June fat cattle futures through June 18. The oldest long is still dated 12/18. USDA reported very limited...
Cotton Trading Both Sides of UNCH
Cotton futures start the day 3 points lower to 3 points higher from overnight adjustments. Yesterday, new crop cotton closed firm with 1 to 7 point gains. Old crop July fell 33 points. The weekly CoT report showed managed money at 42,685 contracts net long in cotton on 6/15. That...
Corn Futures 3 to 7 Cents Lower in Early Tuesday Trade
Corn futures initially tried to gap a couple cents higher last night but are now trading 3 ½ to 7 ¼ lower. Corn futures had ended the Monday session mixed with a 4 cent gain in July, but with 9 1/4 to 9 1/2 cent new crop losses. Preliminary open...
Soybeans Fade Monday Gains, But Nearby July Firm
Soy futures are mostly 1 to 5 cents lower this morning, with nearby July up 1 cent as traders exit in front of Friday’s options expiration. On Monday, soybean futures were double digits stronger in old crop, and 6 1/4 to 8 1/4 cents higher for new crop. Soymeal prices...
Strong Early Gains in Minneapolis Wheat Drag Others Higher
Wheat futures are higher this morning, but it depends greatly which market you are using. MPLS spring wheat futures are up 23 to 30 cents following a sharp drop in condition ratings.  KC HRW is being harvested already, and up 3 to 4 cents.  Chicago SRW is also in early...
Profit Taking Continues in Hogs After Extended Rally
Triple digit losses on Monday will have the board back to expanded $4.50 limits for the Tuesday session. Long liquidation continued, dropping open interest 2,923 contracts. USDA’s National Average Base Hog price for Monday afternoon was $123.57 after a $0.95 recovery. The CME Lean Hog Index for 6/18 was $120.68 after...

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