Soybeans were higher overnight, and extended gains through the day in technical trading, with November pushing above both key trend line resistance and the 200-day moving average. December soymeal again led the complex higher and rallied from the 50-day moving average to test the 200-day moving average for the first time since late July. Funds…
Since 1990, there has not been a strong tendency for NASS to either raise or lower the national soybean yield estimate in the October crop report. There have been 11 years that the yield was lowered by an average of 0.9 BPA, 12 years that NASS’s yield increased by an average of 1.1 BPA, and…
Hog futures were sharply lower at Friday’s open and traded lower all day. October hogs again marked new contract lows, while December had light support just above last week’s low. The hog index was $.80 lower on Friday at $60.12 and projected $1.05 lower for Monday, putting the index under $60 for the first time…
AgResource Daily Farm Marketing Advice for Friday: 1/ No new advice. The CBOT been stronger than producers or traders expected as funds have been covering shorts with November soybeans rising above key resistance at $9.80. The rally above the 200-day moving average (and above a prior high) in November soybeans confirms a price trend of…
Bottom Line: USDA is projecting Russian wheat yields this year to be 3.029 MT/HA (44.9 Bu/Ac). That’s a record and up 12.3% from last year’s record yields. However, the most recent wheat harvest report shows this year’s yields are 14.8% higher than last year. This week, the Russian consultancy IKAR lowered their crop estimate…
