AgResource LATAM, July 05
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Wheat Trades Wildly; Ends Moderately Higher
US & European wheat futures ended with modest gains following nearly a $1 range in Minneapolis futures. As can be expected in times of declining supplies, volatility will be elevated. ARC’s work suggests that little spring wheat demand rationing is being done at current prices (Canada’s cash market is following the US), and as yield…
Corn Rallies On Yield/Weather Concern
Corn futures traded mixed, but rallied into the close as warm/dry weather is likely to continue into the latter part of July – at which point the majority of corn will be in pollination. The EU ensemble (the last model release of the day) features some precip in IL, IN, OH and KY next week,…
Afternoon Weather Update
US Forecast Warm/Dry Through July 15th; Drought Expansion Forthcoming: Much like a year ago, the month of June was drier and warmer than normal. The issue this year, however, is that a favorable shift to cool/wet weather is does not lie ahead, and the current 10-day outlook implies a further depletion of soil moisture across…
Hogs Continue Higher At Midweek On Strong Cash Prices
Hog futures marked good gains at the end of trading on Wednesday, with July leading the midweek rally, though all CME hog contracts out to May traded new contract highs. The hog index was down a penny at $91.71, but projected to be up $.22 on Thursday. The USDA called negotiated trade $.49 higher for…
