Another round of Egyptian business has come and gone with yet lower prices, and as such Black Sea offers through March are down slightly. Egypt bought two cargoes of Russian wheat at an average fob price of $193/MT, down $1.50 from its tender in mid-November, and the graphic belwo makes clear world cash wheat prices…
Corn futures fell another 2 cents amid a lack of news, a higher dollar, weaker crude, and as the USDA’s long term projections lack any bullish fodder. Assuming normal weather trend corn yields will reach 190 Bu/Acre by 2027, and even despite a lack of acreage growth US end stocks will stay near 2.5 Bil…
La Nina-Based Pattern Ahead in South America: The EU & GFS models this evening maintain needed rainfall across Central and Western Argentina, and normal to above normal precip will continue across a majority of Brazil’s soy belt. However, soil moisture erosion will persist in E Argentina and S Brazil, which is a noticeable signature of…
The USDA released tables for the Long Term Agriculture Projections this morning. The estimates are compiled in November, but historically have not been released until February. Starting in 2014, the USDA began releasing the date in late Nov/eary Dec, since the estimates are outdated by February. The most significant data point is often…
Selling just after the open on Tuesday found strong demand, that carried hog futures to strong gains into late in the day. February marked the best gain for the day on fund buying, but was closely followed by December, which marked a 4 week high and also gained against the cash index. The CME’s hog…
