The hog market was steady to start the week, and held in a narrow range through Monday’s trading. At the close, futures were lightly mixed but little changed, while the CME’s lean hog index gained $.45 to $55.78. The weekend slaughter data showed another big jump in negotiated slaughter weights, while formula weights and prices…
Following firm trade overnight, November soybeans had resistance above the 200 day moving average and settled 5.5 cents lower. Trade news was limited with export inspections and crop progress data delayed to Tuesday. Commodity fund traders were estimated sellers of; 5,000 soybean and 2,000 soymeal contracts, and buyers of 2,000 contracts in the soyoil market.…
Subsurface water is plenty cool for a La Nina episode but will trade winds blow to up-well the cool water and initiate La Nina?
Looking cold and snowy into the North-Central U.S. for early-to-middle winter.
** The morning has been mixed at the CBOT with soybeans trading either side of unchanged, while the grains (corn and wheat) are slightly lower. The volume of trade has been modest with most fund managers waiting for Thursday’s USDA report before adding to their positions. Funds are looking at using any post report break…
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