Market Analysis

And, uh, Dan, kind of a, uh, subdued day compared to what we had on Friday with that, uh, with that report there.

Really kinda threw a curveball into the market.

It really did, Jamie, and record volume on Friday in terms of corn, uh, not only on a one-minute basis when we traded forty-five thousand contracts right after the report, but also for the day at one point two million.

So very, very big day.

Today, much more passive.

Uh, we are seeing a lot of end user pricing for whatever reason, whether they're cattle, uh, or in the ethanol business, a lot of pricing on the break that has been supportive of the market.

And then on the soybean market, we're hoping that China comes back and, uh, from their holiday as they did last week and then buys US soybeans.

Of course, USDA is closed today for the Columbus Day off.

In the livestock market here today, it's kind of been mixed throughout the day.

We had hogs up, cattle pretty much staying lower today.

Yeah.

The, uh, the cattle market has, uh, been, uh-- of course, it rallied strongly on Friday when corn prices dropped.

The feeder cattle market caught a very strong day at that point.

Today, as the corn market's coming back, we're taking a little of that, uh, back, if you will.

Uh, cash cattle is expected to be steady, maybe at two dollars higher, but we are of course, trading, uh, at a discount in the futures market, so that'll be supportive.

But other than that, there's not a lot of news, and within that, you're seeing this choppiness that is prevailing in not only the cattle market, but some other commodity markets.

So we'll see how this all, uh, washes out as we get through the week.

But with USDA closed, we, we tend to be quieter here in Chicago.

And, uh, Dan, kind of a, uh, subdued day compared to what we had on Friday with that, uh, with that report there.

Really kinda threw a curveball into the market.

It really did, Jamie, and record volume on Friday in terms of corn, uh, not only on a one-minute basis when we traded forty-five thousand contracts right after the report, but also for the day at one point two million.

So very, very big day.

Today, much more passive.

Uh, we are seeing a lot of end user pricing for whatever reason, whether they're cattle, uh, or in the ethanol business, a lot of pricing on the break that has been supportive of the market.

And then on the soybean market, we're hoping that China comes back and, uh, from their holiday as they did last week and then buys US soybeans.

Of course, USDA is closed today for the Columbus Day off.

In the livestock market here today, it's kind of been mixed throughout the day.

We had hogs up, cattle pretty much staying lower today.

Yeah.

The, uh, the cattle market has, uh, been, uh-- of course, it rallied strongly on Friday when corn prices dropped.

The feeder cattle market caught a very strong day at that point.

Today, as the corn market's coming back, we're taking a little of that, uh, back, if you will.

Uh, cash cattle is expected to be steady, maybe at two dollars higher, but we are of course, trading, uh, at a discount in the futures market, so that'll be supportive.

But other than that, there's not a lot of news, and within that, you're seeing this choppiness that is prevailing in not only the cattle market, but some other commodity markets.

So we'll see how this all, uh, washes out as we get through the week.

But with USDA closed, we, we tend to be quieter here in Chicago.