Central US Drier Beyond May 5th; Still Cold Eastern Corn Belt: The EU and GFS are still in mostly good agreement. A much drier pattern lies in the offing through beyond Wed/Thurs, but amid a lingering low pressure Trough, below normal temps will persist through the week ahead in areas surrounding the Great Lakes. Corn…
Early strength in the hog market on Monday quickly ran into resistance, and hogs traded down through the day on what looked to be profit taking following last week’s strong rally. The hog index started the week 7 cents lower at $59.64, while the weekend slaughter data indicates $.24 higher for Tuesday, breaking a 32…
Soy markets were higher overnight and continued to gain through Monday. Heavy weekend rains and cool temperatures, along cool/wet forecast for the next week offered support to the soy trade. The soy product markets followed soybeans higher, with meal gaining slightly against soyoil. Commodity fund traders were estimated as net buyers of 18,000 soybean, 1,500…
The Commitment of Traders report showed that managed money funds are holding a record short position in Chicago wheat, corn and soybeans worth 407,000 contracts – a new record. Managed funds’ short position in all markets this week is higher than expected. Managed funds as of last Friday held a combined short position in corn, wheat, soybeans and soy oil…
An upper trough pattern anchors across Russia causing a cool and wet pattern for much of west and central Russia.
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