Wheat futures across the world ended mixed but narrowly around unchanged today. Cash markets firmed a bit, and we note there’s no new crop wheat for sale below levels comparable to $4.50, basis Sep CME. The rally in spring wheat futures has paused, but Sep MGE is fairly valued above $6.00, and a test of…
Corn futures fell just as the GFS was completing its midday cycle and indeed that model maintains the potential for soaking rain across much of the Midwest through the next 10 days. However, the weather community has largely dismissed GFS operational output, and even the GFS ensemble projects the return of a declining soil moisture…
Models Lack Agreement; Confidence in Extended Pattern Low: Radar maps show scattered showers working across the Eastern Midwest, and a pattern of lite, but lingering rainfall will continue throughout the weekend. But the major forecast models lack agreement even on the near term outlook! Key to next week’s pattern will be how much and where…
: Overnight strength in the soybean market began to fade just after the morning open, and prices were cut back to unchanged at the close. The midday GFS weather forecast offered a wet/cool outlook which kept soybean prices under pressure after the midday hour. Commodity fund traders were estimated sellers of; 3,000 soybean and 1,000…
It was a good start and disappointing finish for the hog market at midweek. July was higher at the open, but after briefly trading new contract highs, turned back down and finished just above unchanged. December briefly cleared last week’s high and was lower at the close. The hog index gained $.57 to $81.16…
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