US wheat futures have fallen to test chart-based support, and price action through the remainder of the week will in large part hinge upon NASS’s updated corn yield on Thursday. Otherwise, little has changed and following this break Gulf HRW is again offered fractionally below Russian origin for Nov/Dec arrival – and as such we…
Dec corn is again testing its contract low, and via the trade’s average guess on US corn yield and ending stocks the market is gearing up for looser US & world balance sheets on Thursday. The trade’s guess on US corn production rests at 14,170 Mil Bu, virtually unchanged from the USDA’s September estimate. …
US Forecast Drier Again; Models in Better Agreement: The GFS is again drier in the 8-15 day period, which puts it in much better agreement with its EU & Canadian counterparts. Recent rainfall has been welcomed (5-day totals are at left), additional showers occur across the Great Lakes regions on the weekend, and near complete…
Unless the market secures additional acres, changes lie ahead.
Hog futures were higher at the open and extended their gains through Wednesday. October continued to lead the way higher into this week’s expiration and gained another $1. The CME’s lean hog index gained $.69 at midweek and is projected to jump $1.22 on Thursday. The pork cutout value found support just above…
