Wheat futures continue to follow neighboring corn and bean markets, which themselves ended weaker on a likely US weather pattern change by mid-August. Otherwise, there’s limited wheat-specific news available, but we do mention that the US dollar continues its collapse and currencies elsewhere continue to rally. Currencies will be rather important longer term should this…
CBOT futures ended a bit weaker, and finally confidence is rising with respect to a needed Central US weather pattern shift. Another 10 days of dry but cool weather lies in the offing, but the major forecasting models, along with NOAA, are in agreement that wetter Midwest profile beyond mid-month. US corn ratings fell…
Hogs were lower through Monday’s trading on follow through selling from Friday’s poor technical closes. August opened under the 50 day moving average and continued down through the day, while October hogs closed under the contract’s 200 day moving average for the first day since late April. The hog index down $.64 at $88.75, and…
Following lower overnight trade, the complex spent the day clawing back losses ahead of the NASS weekly crop condition report. Central US weather forecasts were the key price driver at the start of the week. Commodity fund traders were estimated sellers of; 5,000 soybean and 3,000 soymeal contracts, while buying 3,000 soyoil contracts. After…
The Commitment of Traders report showed that managed money funds are still holding a combined long position in Chicago wheat, corn, soybeans and soyoil worth 248,178, a decent increase from 227,895 contracts the previous week. Funds are still long, and added to this position last week week, as the Central US, as a whole, is still very dry. Funds extended their…
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