After the Bell (VIP) -- November 23, 2012

November 23, 2012 06:41 AM
 

Corn: Futures closed mostly 2 to 6 cents higher on support from stronger-than-expected weekly export sales and supportive outside markets. For the week, corn futures were solidly higher as strength in the cash market triggered a recovery after losses last week.

Soybeans: Futures finished mostly 5 to 8 cents higher on support from a general "risk-on" stance across the investment world. Soybean futures posted solid corrective gains for the week on improved demand and ideas recent, sharp losses were overdone.

Wheat: Futures ended slightly higher in Chicago and Kansas City, while Minneapolis wheat was narrowly mixed. Support came from a weak dollar and stronger-than-expected weekly export sales. For the week, wheat futures posted modest gains as the market followed corn and soybean futures higher.

Cotton: Cotton futures closed 57 to 255 points lower despite a strong weekly export sales figure and a weaker U.S. dollar. Technical-based selling also weighed on futures today as key support was violated. Today's declines locked in losses for the week.

Hogs: Lean hog futures ended mostly firmer amid strength in the cash hog market and a general "risk-on" attitude in the investment world. For the week, lean hog futures posted strong gains.

Cattle: Live cattle futures closed 55 cents to $1.10 higher today in reaction to the $2 to $3 higher cash cattle trade Wednesday and on support from outside markets. Feeder cattle were higher on support from live cattle and outside markets, which allowed traders to ignore strength in the corn market. For the week, live cattle futures posted strong gains.

 

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