Western Standard - May 16, 2023


MPC Daily Market Update May 16, 2023


Episode Stats

Length

1 minute

Words per Minute

172.83951

Word Count

196

Sentence Count

23


Summary

Roundly uninspiring day for markets. Wheat, soybeans, corn, soymeal, canola, wheat, soybean futures, and futures for pulse and soybeans have all slid on the day. Cattle, wheat and soybean prices have also taken a hit.


Transcript

00:00:00.000 Well, it's a little bit of a smoky day out there today, and it seems to have smoked out the bulls out of this market as well,
00:00:05.780 with markets starting to settle down a little bit after a couple strong days.
00:00:09.680 And we got cash barley holding steady at $4.07 a metric, feed wheat's holding at $4.08 a metric, and corn's actually down to $3.90 per metric.
00:00:17.800 Taking a look at the milling wheat markets, July Minneapolis futures slid $0.02 to $8.71 per bushel,
00:00:23.540 with local hard red spring bid for May movement at $10.30 per bushel delivered.
00:00:27.400 Moving over to the oil seeds, nearby canola futures slid $0.70 to $730 per metric ton,
00:00:34.940 with delivered values for May movement at $16.35 per bushel.
00:00:39.520 Continuing on to the pulse markets, nearby red lentil prices are trading at $0.34 per pound,
00:00:45.760 and yellow peas remain at $11.50 per bushel.
00:00:49.380 Finishing up with the cattle markets, June life cattle are down $0.42.5 to $1.63.90 per hundredweight.
00:00:56.060 For more information on pricing and picked up on farm options, give me a call at 403-394-1711.
00:01:02.720 I'm Mike Van Dyke at Marketplace Commodities.
00:01:05.300 Accurate real-time marketing information and pricing options.