December hogs took over as the spot month and rallied to a 9 week high on technical/fund buying. Last week’s Commitment of Traders report showed that funds had added to their long hog position for 2 consecutive weeks, with another week of gains likely to be confirmed in Friday’s report. The cash market continues to…
Soy futures were lower to start the week on improved Brazilian weather foercasts that left prices down 8-9 cents. Daily US export sales of just over 8 Mil Bu announced, while soybean export inspections were the largest of the year at 65 Mil Bu. Yet, US soybean exports need to ramp up to 100 Mil…
** CBOT Midday AgResource Daily Update: The early morning CBOT trade has been mixed with fund short covering noted in wheat, while corn and soybean futures sag on the coming US harvest pressure and improved South American weather. The volume of trade has been well down of recent days as fund managers seem less interested…
Bottom Line: Based on China’s preliminary Sep soybean imports of 8.11 MMT the total for imports in 2016/17 was 93.503 MMT vs USDA’s Oct projection of 92.5 MMT (which is up 0.5 MMT from their Sep projection). Based on ship lineup data for the principal soybean exporters, China’s Oct soybean imports could be about 6.11…
The Climate Impact Company Winter 2017-18 Outlook for the U.S. indicates the third warm winter in a row.
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