Old crop US minor feedgrain stocks will be raised amid weak feed/resid use, but overall will stay tight into 2018/19. Producers intend to plant a combined 10.9 Mil Acres of barley, sorghum & oats in 2018, up just 200,000 from the prior year, and amid reduced carryin supply and relatively inelastic domestic use, ARC looks…
GFS Slightly Warmer Mid-April; Otherwise Outlook Unchanged: The US forecast this evening is not quite as cold beyond April 12th as prior runs, but it’s most likely that overnight lows across a bulk of the Corn Belt will stay in the 40s and low 50s into the latter part of the month. NOAA’s 6-10 day…
June hogs fell another $2 as corn & meal (and wheat) rallied to decent gains, and as questions over NAFTA have been renewed. Managed funds are likely flat this evening in Chicago hogs, but there’s room for the spec community to establish a net short position worth 10-15,000 contracts, and as the export market needs…
US wheat futures rallied 10-16 cents, led by KC, as HRW conditions on Monday were revealed to be near record low, and as the market failed to make new lows for the move in recent days. EU markets followed along in their first day back from the Easter holiday, and ARC expects a rather choppy…
Corn followed wheat to minor gains, and corn-specific fundamentals remain supportive. Bitterly cold temps look to end beyond the next 8-9 days, but below normal readings are likely thereafter, and freezing overnight lows will be featured across the northern half of the Corn Belt well into the latter part of the month. Basis in South…
