AgResource Weekly Newsletter, March 6
In this week’s newsletter, we take a look at 2018 global corn supply & demand, with a focus on major exporter stocks.
Wheat Rally Pauses; Market Rationing Supply
It remains that downside risk is limited until/unless widespread rainfall materializes across the US Western Plains. However, there’s evidence to suggest La Nina’s end is imminent, which on the margin should bode favorably for Plains rain this spring. Additionally, the US market is working to slow old and new crop export demand, and is also…
Corn Ends Firm; Supported by Fund Demand
May corn settled at new rally highs and, unlike wheat, the corn is finding demand at current prices rather than rationing it. Gulf basis has rallied along with the pace of export sales, but Black Sea feed wheat has found new highs. And regardless of final South American production estimates, exports won’t begin there until…
Afternoon Weather Update
Models Hint at Better Rain in N Argentina After March 11th: The GFS & EU models lack perfect agreement, but lite showers are probable in Central Argentina this weekend. The EU’s 10-day outlook is below, Argentina’s primary crop belt is highlighted, and though coming rain won’t affect longer term moisture deficits, a pattern of complete…
Hogs Give Back Early Week Gains Through Tuesday Trade
After a sharply higher start to the day on Tuesday, the hog market turned down and gave back much of Monday’s gains. May and June took the brunt of Tuesday’s selling, and at the close June was back under it’s 200 day moving average. The cash index was down $.40 at $67.69 and projected another…
