2017/18 World Corn Supply & Demand
Our initial estimates of global corn supply and demand in 2017 ahead of the USDA’s May WASDE.
Wheat Leads Grain Rally on Weather
Selling was simply absent after today’s opening. Funds’ record short position established this week is noted, the US dollar continues to weaken and there’s enough weather concern available in the US and Europe to warrant a recovery from contract lows – and intermediate lows were likely scored this morning at $3.98 basis May CME. Improvement…
Corn Finally Reacts to US Weather Pattern; Massive Fund Buying Noted
Funds in Chicago bought/covered an estimated 27,000 contracts in the first real reaction to planting delays expected in late Apr/early May. Like wheat, spec and producer selling is absent, and the US forecast is just too cold and wet through the first week of May to extract additional premium. A close above $3.75, July, would…
Afternoon Weather Update
Central US Forecast Wetter Nearby, Cooler in Extended Period: Too wet and too cold is the theme of the US forecast into the first week of May. Coming rainfall has been well documented, and the GFS, EU and NOAA are all in agreement that rainfall Fri-Mon will exist in a range of 2-5”. Only the…
Hogs Build On Monday’s Strength
Strong demand developed in the hog market just after the open on Tuesday that supported a sharp rally into the close. Fundamentally there was nothing new to report, but the market has fallen to deeply oversold levels in the last week ahead of what is seasonally a stronger time of year, triggering short covering. The…
