So far this summer season the GFS has been much too warm with their medium-range forecasts of anomalous temperature in the Great Plains. The ECM hasn’t been quite as warm. Why?
AgResource breaks down the week in ag commodities.
Southern European drought worsens but is not likely to expand mid-summer.
Following a more than 60 cent break from the early week highs, soybeans caught support overnight and then extended gains through the day. At the close, soybeans were up 12-15 cents with most new crop contracts back over $10. Commodity fund traders were estimated buyers of 9,000 soybean, 4,000 soymeal, and 3,000 soyoil contracts. …
Selling in the hog market developed right from the open on Friday and kept futures under pressure into the close, with August marking the largest decline. The hog index was up $.09 at $92.84 and projected 6 cents lower for Monday – only the 2nd lower day since late April, while negotiated trade was off…
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