US wheat futures rallied 5-9 cents on short covering, and as meaningful moisture relief this weekend will be less than previously though. The final model runs of the day, including NOAA’s QPF, confine rainfall in excess of 1.5” to Central Oklahoma. A majority of the HRW will benefit some, but follow up precip is lacking…
Corn futures rallied slightly, having found support at major moving averages. This week’s EIA report is viewed as supportive with ethanol production above last year while ethanol stocks are falling rather quickly. Ensemble models maintain complete dryness across Brazil’s safrinha corn belt into early May, and more attention will be paid to Brazilian soil moisture…
US Forecast Again Drier in Plains Next Week: The EU & GFS models are in better agreement this evening, with the GFS having trended drier in the HRW Belt next week and beyond. Some measure of relief is expected this weekend, but soaking total (1-2”) have been pushed southward into Central OK and pockets of…
Hogs rallied right from the open on Wednesday, and continued higher into late in the day. The cash index moved up another $.49 to $54.02, and estimated to jump another $1.02 for Thursday. This week looks to be confirming a cash market bottom. The pork belly value was slightly weaker on Wednesday, but now…
It was a lightly mixed close for the CBOT soy trade on Wednesday. Old crop beans were 3-4 cents lower, with new crop steady to 4 cents higher. In the product markets, soybean meal was generally weaker, while soyoil was mildly supported by a strong energy market rally. While interior US soybean basis has…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
