Dec corn traded in another 4-cent range, ended modestly higher, and whether the contract can trade through $3.55 – and thus break through its 20-day MA for the first time mid-July – will be watched closely. ARC notes that both chart-based support and resistance continue to narrow. Otherwise, the weekly ethanol report was in…
Following firm trading overnight, soybeans extended gains on improved export demand. Commodity fund traders were estimated buyers of; 3,000 soybeans, 1,000 soymeal and 2,000 soyoil contracts. Ahead of the morning open, the USDA announced old crop export sales totaling 132,000 MTs to China and another 960,000 MTs to unknown, with another 120,000 MTs…
It was a sharply mixed day of trade in the hog market that left October just above contract lows at the close, while the rest of the market posted modest gains. Open interest in October hogs has been declining since the index fund roll earlier this month, but remains historically large. At the end of…
Climate Impact Company updates the quarter 4 of 2017 climate forecast for the U.S.
Bottom Line: China crush margins have swung above and below breakeven for the past month. This week, the “spot” margin is below breakeven and the “forward” margin still shows a loss. The “spot” crush margin fell 54 Yuan and is now below break-even at -19 Yuan/MT. The “forward” margin dropped 47 Yuan to -71…
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