Models Drier in Argentina; Drier in Brazil Next Week: The EU & GFS are in better agreement on South America’s near term pattern. One rain event will seep through Central Argentina next Mon-Tues, with totals of .50-1.00” favoring pockets of Cordoba and fringe production regions in the north. Near normal rainfall will be ongoing in…
Wheat futures ended mixed but barely changed ahead of Friday’s weekly export sales data. Recall US export demand has rebounded noticeably in the last 4 weeks, and compared to European origin, the US Gulf market is still competitive. US wheat sales Friday are estimated in a range of 20-25 Mil Bu; a weekly pace of…
Corn ended slightly lower amid late year farmer selling (the need for cash)with March chart based support right at its 20-day moving average. S American weather is OK, but longer term moisture deficits are likely to persist in Argentina into late January. Fundamental downside risk in early 2018 is viewed as severely limited. US…
Thursday marked an inside day of trading for February hogs that left the market firm at the close. February hogs posted the best gain for the day, and finished nearly $10 over the cash index, while summer hog contracts traded quietly just under contract highs. The lean hog index was down $.03 at $61.59, and…
A sharp drop in the value of the Argentine peso and the end of the year kept soybean and product markets under pressure through Thursday’s trade. Soyoil marked the largest decline and was down 2% for the day, with March marking the lowest close since last summer. Commodity funds were estimated sellers of; 8,500 soybean,…
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