US & world wheat prices aren’t expected to rally much without an EU/Black Sea weather problem this spring or summer. However, neither is the market expected to decline amid another modest contraction in major exporter stocks/use, enlarged Indian wheat imports and of course amid ongoing drought across the US Plains. The US market has fallen…
Plains Rainfall Stays Lite, Spotty: Lite showers will be a bit more expansive across the Southern & Western Plains over the next two weeks, but total accumulation through the period is unlikely to exceed .25-.50” across the TX/OK panhandles, E CO & W TX. Heavy rainfall will favor the Delta/Midwest, as will cold temps. Cumulative…
Soybean and meal prices eased through Tuesday’s trading, with reduced volume totals noted. Market news so far this week has been limited, though traders are anxious to see the USDA’s quarterly stocks and new crop acreage data. US and South American soybean meal prices have rallied since the start of the year, but…
Hog futures were on both sides of unchanged through Tuesday, in quieter day of trade that generally had prices lower at the close. April slipped to new lows through Tuesday, putting the market now nearly $20 under the high that was traded at the start of the year. The cash index was down $.97 on…
US futures fell another 3-5 cents amid a lack of fresh news, and as the trade debates Plains weather potential during the first half of April. This evening’s model guidance suggests that perhaps lite precip will be more widespread moving forward, but drought improvement is unlikely without a more pronounced – and sustained – pattern…
