An early April hog rally was stopped just above Thursday’s high, and the rest of the day was spent trading back and forth below unchanged. The main focus in the market at the end of the week was on the index fund roll, which looks to be just over half way completed. The cash index…
Wheat futures extended Thursday’s losses and ended the week down 3-13 cents, led by KC. ARC has written in recent days that, while US drought is concerning, the US market needed adverse weather in one other major exporting country to sustain value above $5.00, basis spot CME. The growing season is just beginning, but it’s…
Corn futures fell slightly today, but ended the week up 5 cents. There’s not a lot of fresh news available this evening, though generally concern over US trade is noted and much better rainfall in Argentina beyond March 18th is increasingly likely. ARC strongly doubts rainfall in late March will affect corn potential, and…
Wetter Conditions Increasingly Likely in Argentina: For the second day in a row the major forecasting models feature widespread soaking rainfall across Argentina’s primary Ag Belt beyond March 18-19. The EU model’s 8-15 day precip anomaly forecast is attached, and that the models are consistent and in general agreement with one another is important. Whether…
Soybean and meal markets came undone through Friday’s trading as funds liquidated large position length. The weather models added rains to some of the driest parts of the Argentine soybean belt overnight in the 6-10 day forecasts, and heavy rain totals of 1-3+” remained in the afternoon EU forecast. These rains will be greatly welcomed…
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