A bulk of the Midwestern corn crop will see near complete dryness to finish the growing season, which in parts of IA, MO and IL is far from ideal given current soil moisture deficits. As private crop tours become more common, there’s increasing evidence that national yield could drop closer to 160 Bu/acre, and though…
Midwest Dryness Extended into August 25th: The forecast is little changed nearby, but drier in the 11-15 day period as an ongoing blocking pattern persists. Very wet weather will continue across the S Plains, Delta & Southeast for the next week. Near complete dryness will outline the heart of the US corn & soy belts,…
Bottom Line: Relative to past reports, the range in trade expectations for the 2017 August Crop Report’s all wheat estimate is very large. That decreases the odds that the market might be “surprised” if the August estimate falls outside the range of trade expectations. The Report has fallen outside the range of trade expectations only…
Wednesday was an inside day of trading for October hogs that left the market moderately higher at the close. The market had a higher open and good support in early trade, though a midday push back above the 50 day moving average again had found resistance. The hog index was down $.34 at $85.76, and…
Soybeans were on both sides of unchanged through Wednesday and around unchanged at the close. Neither rallies nor breaks could get much tractio with November finding support against the 50 day moving average. Commodity funds were estimated sellers of 1,500 contracts in soybeans/meal (each) while buying 3,000 soyoil. Soybean oil led the complex…
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