Weekly Newsletter, Aug 29
In this week’s report, we take a look at US soybean supply & demand using various yield scenarios. Crop conditions models are also updated.
US Wheat Strong into Close; Russia Finding Demand
KC & CME futures ended with modest gains after touching new contract lows in early trading. The time is right for bottom picking, seasonally, and at $4.00 downside risk is viewed as extremely limited. We note that based on Russian port data, the market there is finding quite a bit of demand, and along with…
Corn Ends Lower in Narrow Range; Trade in Waiting Mode
Another slightly weaker, mediocre volume session was noted in Chicago today, and there remains a lack of significant news. The EIA on Wednesday is expected to reveal another cut in US energy stocks. Ethanol production/blend margins remain elevated. The graphic attached shows the recent rise in gasoline’s premium to ethanol, which of course this…
Afternoon Weather Udpate
US Forecast Little Changed; Another Tropical Storm in Early September?: Wet south, dry elsewhere best describes the two-week Central US forecast. The EU and GFS models are in good agreement, and though some discrepancies exist with respect to another Gulf tropical storm, both models indicate the risk of yet more heavy rainfall across TX &…
Summer Hog Herd Slaughter & Farrowing Intentions
NASS will soon begin the process of collecting and tabulating pork producer surveys for the September inventory report that will be released at the end of the month. The June Hogs and Pigs report showed that the US hog breeding herd had grown 1.5% from the previous year, and was the largest since 2008. Market hog…
