Summer hog futures were able to build on Wednesday’s reversal, and closed higher in quieter trade. April inched lower on continued cash market weakness ahead of next week’s expiration, while May hogs trade to and closed just below limit gains. The cash index stayed under supply pressure and was down $.40 at $55.60 and is…
Following higher trade overnight, soybeans were able to extend gains through the day to close 15-17 cents higher. Wednesday’s break was seen as overdone, and a host of other financial markets were able to rally. Moreover, strong weekly/monthly soybean and meal export data helped ease concerns over Chinese trade concerns. While the markets early…
The corn market, understanding Chinese-US trade issues will take time to sort out, turned its attention to weather and rallied a quick 8-9 cents. The graphic below shows the GFS model’s 10-day snow accumulation forecast, and it remains that very little fieldwork will be accomplished in the next 1-2 weeks – whereas corn is typically…
The April International Trade Report released on Thursday showed that the US exported 155 Mil Bu of soybeans in the month of February. That figure was was off 7.5 Mil Bu from a year ago and the lowest in 5 years, but aligned with the monthly FGIS report in March. Soybean export shipments continued to…
Drought Worsens in Plains; Near-Record Snow Cover Recorded in Upper Midwest: The Central US forecast through late April remains concerning with respect to wheat development and timely corn seedings. Some 95% of the Upper Midwest, including the Dakotas, MN and WI, is blanketed by 1-5” of snow. Bitterly cold temps and yet more snow is…
