Hogs traded firm through Thursday trading and December marked the best daily close in 7 weeks, with support again offered at the 200 day moving average. October again advanced against the cash index and closed at $61 versus the cash index that was up $.58 at $54.97. The index is projected another $.36 higher for…
Soybeans were higher overnight and extended gains through Thursday’s trading. November pushed back above the 50 and 100 day moving averages that set off technical buying that put the market up 10 cents at the close. Commodity fund traders were estimated buyers of 8,500 soybean, 4,500 soymeal, and sold 3,000 soyoil contracts. Soybean export…
Bottom Line: If Informa’s corn estimate is too high, the median error (in years when Informa’s estimate was too high) was 1.0%. Based on Informa’s estimate of 14,182 Mil Bu, that would equate to about 146 Mil Bu less – – putting the crop at 14,036 Mil Bu. Earlier this week, INTL FCStone pegged the crop…
AgResource Daily Farm Marketing Advice for Thursday: 1/ Corn Producers: Sell 10% of the estimated 2018 corn harvest at $4.05 basis December 2018 futures. 2/ Sell 10% of estimated 2019 corn production at $4.18 basis Dec 2019 futures. 3/ Sell 15% if the 2017 corn crop is March 2018 corn futures reach $3.75. Ag markets…
Bottom Line: A simple “pace analysis” model suggests that US soybean export sales may have been “front-loaded” and that US annual exports could be as much lower than what USDA projects. Ultimately, the quantity of US soybeans exported will most likely be determined by the size of the S. American crops. That won’t be known…
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