Hogs were lower at the open on Monday and were in the red for most of the day, with Oct and Dec contracts each finding resistance against unchanged. The hog index was down $1.08 at $64.07, and projected $1.27 lower for Tuesday. Negotiated trade continues to weaken and was quoted $.78 lower for Monday,…
Soybeans rallied from the AM open on export sales announcements that totaled 387,000 MTs. However, November soybeans found resistance back above the contract’s 50 day moving average. The soy product markets finished sharply mixed, with meal leading the soy complex higher, while soyoil followed Malaysian palm oil lower. Commodity funds sold 500 soybean and 3,000…
Evidence is increasing on a wet pattern change for the Central U.S. ahead.
** Mixed has been the morning with the grains under pressure while soybeans/ soymeal are strong on Chinese demand. Chinese cash soymeal prices rallied to start the week on active pricing by livestock feeders and other end users. Oil/meal profit taking has also been featured as Friday’s CoT report reflected record large fund managed long…
The Climate Impact Company medium/extended-range precipitation anomaly forecast indicates a wet pattern emerging for the Great Plains.
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