The US dollar plunged to new lows for the move, currencies in other major exporting countries continue to rally, and ethanol production last week was near record high – which is unusual for late summer – but other corn-specific news is lacking. Dec surrendered this week’s rally today, and enthusiasm for new positions will be…
KC & CME wheat futures settled 7-9 cents lower, as Dec CME has struggled to find buying interest above its 20-day moving average. We do mention that, again, world cash markets are little changed, and so Gulf HRW is very competitive for Oct/Nov delivery. Australian forecast are also unchanged and there’s no sign of meaningful…
Central US Drier Next 10 Days, Warmer Long Term: The US pattern into the latter part of September is unchanged, though the models have trended a bit drier into late next week, and we mention the remnants of Irma should not have any material impact on the principle Corn/Soy Belt. Some crop damage is expected…
Hogs gapped lower at the open on Thursday, and traded down into late in the day, with October and December each down $2 at the close. The hog index was down $1.03 at $70.33 and is projected another $.96 lower for Friday. This puts the index down $4.15 for the week and under $70 for…
It was a quiet day of trade that left soybean and product markets slightly weaker at the close. November soybeans slipped back under the 50 day moving average, soymeal traded inside and finished $1.20-1.50/ton lower, while soyoil was below unchanged after marking a new rally in the overnight trade. Commodity fund traders were estimated sellers…
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