US wheat futures ended mixed, while EU futures soared to new rally highs on projected crop loss there through the next 10 days. Europe will stay dry and rather hot through the remainder of the week, and the EU & GFS models are in agreement that heat will move into the Black Sea region in…
Funds covered a sizeable part of their net short position, and the major forecast models over the weekend trended abruptly cooler through the remainder of June. On the margin, this will help endure ongoing dryness across the Plains & Western Midwest. However, meaningful precip is absent, and net drying will occur across a bulk of…
Central US Cooler Next 10 Days: The EU & GFS models are in agreement on a cooler temp profile through the next 10 days as the mean position of a high pressure Ridge stays isolated to the Southern and Western US. Confidence remains low in any forecast beyond the 10 days, but conditions through the…
Hog futures were higher at the open and rallied to strong gains with support coming from continued strength in the cash market. The hog market has flipped to a positive basis in recent weeks, while the cash index was $1.13 higher on Monday at $84.06 with $1.27 higher projected for Tuesday. The load schedule…
Overnight strength in soybeans began to fade in early trade on Monday, and soybeans were 1-2 cents lower at the close. The market chose to overlook the drier near term forecast, and looked to the cooler/wetter 11-15 forecast which sponsored selling above the 50 day moving average in November soybeans. Commodity fund traders were estimated…
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