Soybeans traded down overnight, while early morning buying ran into technical related selling that kept the market under pressure into the close. Soybeans finished 7-9 cents lower, and the meal market gave back all of the early week gains. Commodity fund traders were estimated sellers of 8,500 soybean and 4,500 soymeal contracts, and bought 5,000…
Early strength in the hog market quickly ran into resistance that held through the morning, while late day selling took hog futures lower into the close. At the end of the day, June had given back almost half of Tuesday’s gains. The lean index on Wednesday was down $.33 at $60.16 and projected another $.23…
US ethanol production through the week ending April 21st totaled 290 million gallons, vs. 292 million during the previous week and compared to just 276 million on this week a year ago. Year-to-date ethanol production rests at 10.1 Bil Gal, vs. 9.7 Bil a year ago (up 5%), which continues to validate the USDA’s call…
Central US Forecast Includes Snow, Lingering Wet Weather Next 10 Days: The overall US pattern through the middle of May is unchanged from prior runs. Heavy rainfall (and some snow) is expected through late next week, and a cooler than normal temp profile looks to be maintained throughout the period beginning later this week. The…
Winter wheat futures ended near unchanged, spring wheat rallied slightly, and fund short covering waned into the close. However, the US forecast is still too wet or too cold, or both, across most of the wheat belt. Low temps this AM fell into the upper 20s & 30s, and only slightly warmer measures are expected…
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