March corn inched to modest but important gains, with the contract now firmly above the first of several chart-based resistance levels. Funds maintain a sizeable net short position. And following last week’s surge in Argentine planting, the South American growing season is really just beginning. Note that only some 2 Mil Hectares (40%) of Argentina’s…
The December Hogs and Pigs report that was released on Friday offered few surprises (relative to expectations), but it did confirm yet another quarter of record large US hog inventories. US market hog supplies as of December 1st across all weight groups was 102% of a year ago, the largest count of December 1st…
Following a slow and choppy start to the day, strong demand developed in February hogs that carried the market to strong gains into late in the day. The hog index was down $.24 to start the week at $61.76, and the thin weekend data projects another $.13 lower for Wednesday. Though it’s another holiday week,…
Soybean and product market were higher at Tuesday’s open, and extended those gains through the day. Soybeans followed the soyoil market, which found it’s support from a strong rally in crude and palmoil. Commodity funds last week were reported as holding the first net short position since September in soybeans, and smallest net long position…
Persistent mild North Atlantic influence maintains a somewhat milder than normal pattern across much of Europe and especially Western Russia well into January.
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