Early selling in October hogs found support under $68, that carried the market higher into the end of the day. At the close, October was back above it’s 50 day moving average for the first time in nearly a month. The hog index was down 12 cents at $85.50, and projected $.25 lower for Monday.…
Soybeans tested Thursday’s lows overnight, and closed with modest gains on Friday. Many analysts and traders were skeptical of the yield increase given condition ratings, while the weather models hold limited rains and building heat in the extended forecast. Commodity fund traders were estimated buyers of 4,500 soybean and 3,500 soymeal contracts while selling 3,000…
** Low volume and mixed has been the CBOT this AM following an active overnight trading session. Corn and soybeans have traded mostly on the plus side while the wheat market is weaker on additional fund selling. World wheat cash prices are holding far better as US wheat futures are still suffering from the fund…
Bottom Line: After dropping 25% in the previous week, this week’s ship lineup is much higher. Is this a continuation of the trend that started 4 weeks ago? The size of this week’s lineup suggests that, at least for the next few weeks, the lineup will support weekly inspections that should be sufficient to make…
Bottom Line: USDA is projecting Russian wheat yields this year to be 2.89 MT/HA (43 Bu/Ac). That’s a record and up 7.4% from last year’s record yields. However, the most recent wheat harvest report shows this year’s yields are 10.6% higher than last year (when harvest was at a comparable stage). The spread between…
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