Spring wheat futures were again plagued by long liquidation (funds as of last Tuesday were long a net 6,000 contracts in Minneapolis), but other classes settled just 2-3 cents lower. USDA data on Friday was no doubt bearish, but prevailing themes still include rising EU/Black Sea cash prices and ongoing drought in Australia. End users…
Dec corn ended modestly lower, unable to sustain any follow through chart-based buying. Harvest advanced 6% to 17% complete (vs. 26% on average) through conditions will be rather conducive to activity through the first half of this week. Harvest pressure is noted, and is likely being exacerbated in the interior market by sharply rising…
Needed Rainfall Forecast in Midwest this Week: Finally a decent improvement in soil moisture lies ahead for the Central and much of the Eastern Midwest. A more zonally flowing jet stream develops by late week, which will trigger a pattern of moderate but continues rainfall Wed-Sun, with heavy cumulative totals offered to much of the…
Despite operating margins that are estimated to have been 40-50% less than a year ago and also the lowest since 2012, the US biodiesel industry produced an impressive 149 million gallons of biodiesel through the month of July. This was a record large July production figure, and also record large for any month since the…
A slightly lower start to the morning found robust demand that carried hog futures to strong gains on Monday. At the close, Dec-Apr contracts were all $2 higher, while October was settled $1.85 higher from Friday. While the CME rallied, cash trends remain down with the CME’s lean hog index down $.70 from Friday at…
