U.S. Medium-range Forecasts Bring Super Warmth to The Great Plains
A warm pattern in the Southwest U.S. through Thanksgiving Weekend shifts to the Great Plains next week.
Cattle Called Mixed in PreHoliday Trade; South American Weather Little Changed
** AgResource Daily Cattle Analysis: Cattle futures were able to recover part of the early week losses on Tuesday and closed higher, and a steady outlook is offered for early trade this morning. Today is a full day of trade, but with cash trends established for the week, trading interest is expected to quickly trail…
Seasonal Thanksgiving Day Treat; South American Weather Forecast Unchanged
** AgResource Daily Farm Marketing Advice for Wednesday: 1/ Corn Producers: Sell 10% of the estimated ‘18 corn harvest at $4.01 basis Dec ‘18 futures. 2/ Corn Producers: Sell 10% of estimated ‘19 corn production at $4.17 basis Dec ‘19 futures. 3/ Corn Producers: Sell 15% if the 2017 corn crop if March ‘18 corn…
World Wheat Markets Add Marginal Risk Premium
The highlight of the day was of course widespread media coverage of Russia confirming that a radioactive leak originated there in late September. The trade is scrambling to know what this means for supply and demand, particularly with many well versed on catastrophes at Chernobyl and Fukushima. However, cash markets only barely moved, and in…
Corn Ends Unchanged; Argentina Looks a Bit Wetter Near Term
Corn futures found support on the third (and perhaps last?) day of fund short covering. Another week of strong ethanol production is expected in Wednesday’s EIA report and liquidation of December futures will continue ahead of 1st notice. The graphic below shows that, while US ethanol prices are in retreat, Brazilian origin ethanol continues…
