July hogs found good demand on a slightly weaker start to the morning, and were just over $1 higher for the day at the close. December gained another $.55 through Thursday, and nearly recovered all of Monday’s sharp break over the last 3 sessions. The hog index gained $.60 to $78.80, and slaughter data suggests…
Brazil’s June crop report expected increased the projection for the soybean crop by just under 1 MMTs, to a record large 113.9 MMTs. Total area was up fractionally form the May estimate, as was the national yield. The June production estimate once again confirms a record large soybean crop, and is nearly 11 MMTs over…
Soybeans were higher overnight and extended gains through morning, with July reaching the best price in 2 week. However, soybean and meal markets were each well off the highs at the close. Commodity fund traders were estimated buyers of 8,000 soybean, 2,000 soymeal, and 4,000 soyoil contracts. The Argentine soybean harvest continues a steady…
The US wheat market continues to add risk premium, and rightly so. Drought will intensify further across the Northern Plains, and HRW production is expected to be lowered slightly in Friday’s production report. There is at least uncertainty with respect to rainfall across the Midwest beyond June 15th, but the models are in agreement that…
Corn futures went to new highs for the move, but settled a bit weaker as July again failed to exceed major technical resistance. The market has taken pause after recent short covering, though our concern over ongoing heat and dryness is unchanged. The major forecasting models lack consensus on rainfall beyond the later…
