Strait of Hormuz Closure Pushes Crude Prices Higher

June WTI crude oil (CLM26 ) on Monday closed up +2.65 (+2.78%), and June RBOB gasoline (RBM26 ) closed up +0.0731 (+2.07%). Crude oil and gasoline prices settled sharply higher on Monday after President Trump rejected Iran’s response to his latest peace proposal, which prolongs the closure of the Strait…

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Soybeans Gains Holding on Monday’s Midday

Soybeans saw gains of 2 ¼ to 5 ½ cents across the board on Monday. The cmdtyView national average Cash Bean price was up 5 1/4 cents at $11.46 1/2. Soymeal futures were up $1.90 to $5.40, with Soy Oil futures 2 to 58 points lower. The weekly Crop Progress…

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Hogs Start the Week with a Rally

Lean hog futures posted gains of 27 cents to $1.60 across the board on Monday. USDA’s national base hog price was not reported on Monday afternoon to thin trade. The CME Lean Hog Index was back down 23 cents on May 7 at $90.79. USDA’s pork carcass cutout value from…

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Cattle Fall into the Monday Close on Tariff Pressure

Live cattle futures closed Monday with contracts up 50 cents in front month June, but other contracts 55 cents lower to down $1.92. Cash trade settled in at $256-260 last week, with southern action $256-258 and northern trade at $258-260. Feeder cattle futures were down $1.92 to $4.80 in the…

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Corn Closes with Monday Gains

Corn futures closed the Monday session with contracts up 3 to 5 cents across most contracts. The CmdtyView national average Cash Corn price was up 4 cents to $4.34 3/4. USDA reported a couple private export sales of corn this morning, with 380,000 MT (220,000 MT for 2025/26 and 160,000…

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Cocoa Prices Soar on Crop Fears

July ICE NY cocoa (CCN26 ) on Monday closed up +527 (+12.60%), and July ICE London cocoa #7 (CAN26 ) closed up +370 (+11.88%). Cocoa prices soared to 3.5-month highs on Monday and settled sharply higher amid concerns that the formation of an El Niño weather pattern could lead to…

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