Wheat futures ended the day and week mixed, with July MGE finding a new contract high and with winter wheat futures lower on profit taking. The highlight this evening is that funds covered a net 62,000 short positions in Chicago (the second biggest move on record), and funds are now short just 21,000 contracts, the…
July fell below major chart-based supported, and weekly price action confirms the long-established range $3.50-3.90, basis spot, looks to hold without threatening weather in July. ARC does caution that extended range outlooks have trended warmer and drier in the first week of July, but near term weather will boost crop ratings in the next two…
The June Cattle on Feed report is viewed as neutral to slightly bearish relative to expectations. NASS reported a May placement figure of 112% of last year versus expectations of 110%, while the marketing rate of 109% was right at expectations. The combined figures resulted in a 98,000 head increase in cattle and put June…
US Forecast Slightly Wetter in Western Corn Belt: The near term forecast has added rainfall coverage to parts of IA & NE, and scattered showers will dot the Eastern Corn Belt this weekend. More will be needed across the W Corn Belt, but amid ongoing cool-ish temps, crop stress through the end of June will…
The Climate Impact Company week 2-4 outlook for the U.S. is updated.
