The GFS is in better agreement with the EU & Canadian models, and coming warmth/dryness will be welcomed in all but the Northern Plains – where abnormal dryness and moderate drought are expanding. Whether rain returns in mid-June merits close monitoring, and overall the market lacks inspiration ahead of the growing season. Argentine corn offers…
Overnight strength gave way to technical trade which left both old and new crop soy slightly weaker at the close. Old crop prices continue to weaken against new, and the July finished 5.5 cents under November. Commodity fund traders were sellers of; 4,000 soybean, 2,000 soymeal, and 3,000 soyoil contracts. The monthly Fats and Oils…
After a higher start to the morning on Thursday, summer hog futures quickly turned down while the back months finished higher on bear spreading. July traded a new contract high just after the open and then dropped sharply, while December was able to build on Wednesday’s short term breakout. The hog index was up 8…
Eighty-one percent of Saskatchewan’s crops were planted as of May 29 (see red circle in chart below). That’s down from last year’s 94% (see black line). As of May 23, 57% of Alberta’s crops were planted vs 90% last year and a 10-year average of 63%. In Manitoba, as of May 29, about 90% of…
** Low volume and mixed has been the CBOT morning with corn, soy and wheat futures trading either side of unchanged. A lack of news has traders hitting the pause button with everyone trying to decipher the summer Midwest weather pattern. A noticeable change in the North American weather pattern occurred on the weekend with…
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