US Ethanol Market Update
AgResource updates US corn’s use in the ethanol market.
Wheat Rallies Sharply; Debate Over Crop Loss Ignited
Yet more freezing temps and heavy snowfall across the Western Plains – in the context of a record net short fund position in Chicago – sparked US wheat futures to gains of 9-25 cents, led by KC contracts. The extent of yield loss won’t be quantified for weeks, but there’s concern that the impact of…
Corn Follows Wheat Higher; Re-Planting Needed in Southern Midwest:
CBOT corn futures followed wheat to decent gains. As expected, flooding rains fell across the Southern Midwest, targeting AR, MO and parts of S IL, where fields will likely have to be planted again. The rally in HRW cash prices have put corn in a better position to find summer feed consumption. Funds bought/covered a…
Afternoon Weather Update
Central US Drier Beyond May 5th; Still Cold Eastern Corn Belt: The EU and GFS are still in mostly good agreement. A much drier pattern lies in the offing through beyond Wed/Thurs, but amid a lingering low pressure Trough, below normal temps will persist through the week ahead in areas surrounding the Great Lakes. Corn…
Hogs Start The Week Lower, Cash Markets Firm
Early strength in the hog market on Monday quickly ran into resistance, and hogs traded down through the day on what looked to be profit taking following last week’s strong rally. The hog index started the week 7 cents lower at $59.64, while the weekend slaughter data indicates $.24 higher for Tuesday, breaking a 32…
