The USDA’s October crop report offered “fireworks” for CBOT soybean futures which allowed funds to push their case of long soybeans/short grains. Funds have been actively buying soy and selling grains for weeks, and the USDA vindicated their position with a .4 BPA fall in US soybean yield and a rise of 1.9 BPA in…
Hogs were higher at the open and lower by the close, with December finding resistance near last week’s highs. Trading in October ends on Friday, and ahead of expiration, the hog index was $1.21 higher at $58.32, and projected $.79 higher for Friday. With the September inventory data known, and another month of…
A eastward shift of the Madden Julian oscillation across the tropical Pacific spawns a wetter pattern change for Brazil late this month.
** Our Apologies; This is the correct File! ** USDA October Crop Report Analysis: The USDA Crop report was bullish for soybeans, and neutral to slightly bearish for corn and wheat. The report highlighted a fall in the ’17 US soybean yield, but also larger harvested acres. The ’17 US corn yield rose, while world…
** The morning has been dull with the grains lower while soybeans trade either side of unchanged. The market is preparing for a bearish October USDA Crop Report on Thursday with the US corn and soybean yield likely to increase, while WASDE raises their Russian wheat crop estimate by another 2-4 MMTs to 183-185 MMTs.…
