DTN Chart Technical Points 05/17 16:30 DTN FUTURES 10 5/17/24 SLOW STOCHASTIC
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 05/17/24 VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
GENERAL COMMENTS:It was an invigorating day for the cattle complex as cash prices, boxed beef prices and the futures contracts all closed higher. Meanwhile the lean hog market didn't see the same level of support as demand is in question.
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Fri, May 17 Exchange rate was 1.3607 down 0.0001
FARM MARKET NEWS - CORN REPORT FOR Fri, May 17 Exchange rate was 1.3607 down 0.0001
GENERAL COMMENTS:July corn closed down 4 1/2 cents and December corn was down 5 1/4 cents. July soybeans closed up 11 3/4 cents and November soybeans were up 4 1/4 cents. July KC wheat closed down 11 1/2 cents, July Chicago wheat was down 12 cents and July Minneapolis wheat was down 9 1/4 cents.The U.S.
Despite expectations for a higher close Friday, the market could not accommodate.
The cattle complexis continuingto trade higher as traders love seeing the support ofstrongerboxed beef prices and are empowered toseethe cash cattle market fighting for higher prices. Still no cash cattle trade has developed, but bids are on the table.
Corn futures are 2 to 3 cents lower at midday Friday; soybean futures are 6 to 7 cents higher; wheat futures are 6 to 8 cents lower. The U.S. stock market is mixed at midday with the S&P 2 points lower.