DTN Chart Technical Points 11/20 16:30 DTN FUTURES 10 11/20/24 SLOW STOCHASTIC
The livestock complex closed mixed as the lean hog contracts finally found some technical footing in the futures complex, the feeder cattle market rallied through the day's end, but the live cattle complex closed on both sides of steady.
USDA MARKET NEWS--AFTERNOON CATTLE REPORT 11/20/24 VOLUME USDA TOTAL RANGE DTN PRACTICAL RANGE WT AVG
FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Wed, November 20 Exchange rate was 1.3972 up 0.0015
FARM MARKET NEWS - CORN REPORT FOR Wed, November 20 Exchange rate was 1.3972 up 0.0015
GENERAL COMMENTS:December corn closed up 3 cents and March corn was up 2 1/4 cents. January soybeans closed down 8 cents and March soybeans were down 9 1/4 cents. March KC wheat closed up 3 1/4 cents, March Chicago wheat was up 4 1/2 cents and March Minneapolis wheat was up 1 cents.The U.S.
Apparently, with the lion's share of the December/March rolls completed, the cotton market was freer to trade higher Wednesday.
The livestock complex is seeing mixed interest this morning as the lean hog contracts are successfully rallying into Wednesday's noon hour but the cattle contracts are trading slightly lower. More than anything the cattle complex hopes to find some better fundamental support to reassure traders of their recent move.
Corn futures are 1 to 3 cents higher at midday Wednesday; soybean futures are 7 to 8 cents lower; wheat futures are 3 to 5 cents higher. The U.S. stock market is weaker at midday with the S&P 45 points lower.
