Commentary

Dairy markets consolidate
04/18/2011 9:06:40 AM
At the close Friday, milk was lower, as it was on the week. April-June ended the week at $16.98 vs. $17.04 on 4/8/11. We are clearly consolidating. Sellers ate through a lot of inventory and buyers bought a lot of needed product; everyone needed to cool off, reset and reevaluate, which is yielding consolidation. We look for more of that theme this week as Passover starts Monday evening; the exchange is closed for Good Friday and next week is both Easter and ADPI. FULL STORY »

CBOT corn outlook: Seen lower; profit taking, eyeing weather
04/15/2011 9:55:05 AM
U.S. corn futures are poised for a lower start to Friday's day session, succumbing to the profit taking pressures that have emerged in the absence of fresh supportive fundamental news. FULL STORY »

Lack of price conviction continues during quiet dairy trade
04/15/2011 8:02:57 AM
Spot cheese continues to creep higher, and perhaps part of the reason futures traders aren’t “buying” into it, literally or figuratively, is because the barrels have pushed above the block valuation and market participants are not seeing that as sustainable. The market feels lethargic. Expect choppy finish to the weak if volume continues quiet. FULL STORY »

CBOT corn outlook Down on outside markets; planting limits loss
04/14/2011 9:59:20 AM
U.S. corn futures are poised to open lower Thursday on pressure from outside markets, with strong export sales and planting concerns limiting losses. FULL STORY »

All quiet on the dairy front; grains under pressure
04/14/2011 7:58:26 AM
Another very quiet day in the class III market yesterday as futures prices are losing steam to the upside. A total of 794 trades occurred on the day and only two months saw over 75 trades, May and June, which were down 15 and 13 respectively. Other months were steady to eight cents lower, as noted on light volume. Consolidation continues to occur between spot and futures with only spot barrels inching higher Wednesday. FULL STORY »

CBOT corn outlook: Up 5-7c in eebound on supply, planting worries
04/13/2011 9:19:46 AM
U.S. corn futures are expected to open higher Wednesday, bouncing back from sharp losses Tuesday as traders continue to worry about extremely tight supplies. FULL STORY »

CBOT corn outlook: Up as poor weather threatens planting
04/11/2011 9:49:44 AM
U.S. corn futures are expected to start near record highs Monday due to increasing concerns that cool, wet weather will disrupt planting in key areas of the Midwest. FULL STORY »

In spot cheese, a break below $1.50 cannot be ruled out
04/06/2011 8:51:42 AM
Class III traded mixed Tuesday as traders try to reconcile a soaring corn market and a falling cheese market. There is a bias to want to be bullish on Class III here lately, as $1.60 seems “cheap” relative to where we’ve been so far this year. Relative is the key word there as today Chicagoans are walking to work in windbreakers and sweaters because the 50 degrees is “warm” relative to the 20 degrees of last month. FULL STORY »

CBOT corn outlook: Profit-taking follow record high close
04/05/2011 9:37:04 AM
Profit-taking is expected to weigh on U.S. corn futures Tuesday after the market finished at an all-time high settlement Monday. Traders and analysts predict corn for May delivery, the most-actively traded contract, will start 4 to 5 cents a bushel lower at the Chicago Board of Trade. FULL STORY »

Class III and cheese markets under pressure
04/05/2011 8:49:24 AM
More than 1,000 contracts traded in Class III futures yesterday as prices were once again under attack, dropping as much as 38 cents. The cheese market continues to be under pressure. Block and barrel cheese prices were down 1 ¾ and 2 cents, respectively. FULL STORY »

CBOT corn outlook: 33-month high on supply-cut expectations
04/04/2011 9:28:43 AM
U.S. corn futures are expected to start at 33-month highs Monday on increased concerns federal forecasters will slash their supply outlook in a monthly crop report. FULL STORY »