The Commitment of Traders report showed that managed money funds are still holding a combined short position in Chicago wheat, corn, and soybeans worth 234,960, a big increase from the previous 161,936 contracts of the previous week. Funds added almost 53,000 short contracts on corn, almost 32,000 on soybeans, while they significantly decreased their wheat short position by 10,000 contracts.…
Total US acreage of principle field crops and CRP was up 888,000 acres from the March Prospective Plantings report, but 2.1 Mil acres less than final acreage in the 2016/17 crop. Compared to the March report, the largest acreage increases were a 707,000 jump in hay acres, followed by 890,000 more corn acres. Total feed…
Hogs were higher at the open on Friday and rallied to strong gains in late week trade, with July through October contracts closing at new highs. The June inventory passed with no major surprises and the market turned focus back to ongoing cash and basis strength. July finished over $90 and August was limit up.…
** USDA June Stocks and Seeding Report Analysis: The USDA June Stocks & Seeding report offered mixed results, but was generally taken as bullish by the marketplace amid the threat of additional warm/dry weather across the Plains and the NW Midwest. CBOT soybeans, corn and wheat futures are sharply higher at midday. US 2017…
The large scale climate pattern supports drought risk in Brazil and Australia. Are the week 2-4 forecasts in agreement?
