Hog futures were on both sides of unchanged through Thursday, before ending mostly higher on continued strength in the cash hog index. The index was up $1.07 on Thursday at $72.99, and is projected another $.56 higher for Friday, which puts total gains for the week at $3.75/cwt. IA State University’s latest update for…
A higher AM start had March corn back above the 50 day moving average. But the rally was short lived, as cash selling pressure emerged. Elevator and hedge related brokers report that US farmers used the biggest daily rally since October to make cash corn sales. The selling persisted into the close as producers shed…
Wheat futures rebounded and closed near the top of its daily trading range as funds covered a portion of their recent shorts. EU wheat cash prices are a bit weaker as stocks there build and the need to find export demand is getting urgent. French farmers are worried that their stored stocks will soon need to…
Technical buying following Wednesday’s close above the 50 day moving average produced another strong rally in the soymeal. The meal market focus remains on Argentine crops/ potential meal exports in the year ahead. And funds continue to add to their long meal position. Commodity funds were estimated buyers of 4,000 soybean and 4,500 soymeal contracts,…
US winter wheat seeding at 32.6 Mil Acres (unchanged from last year) was a bearish surprise, but insurance enrollment data did hint that acres would be down only slightly, if at all. The USDA’s RMA publishes wheat insurance enrollment data, which can be viewed just prior to the release of NASS’s winter wheat seedings…
