A lower open on Thursday was followed by selling that kept hog futures down into the close with the 3 closest months all off more than $1. The cash index jumped $1.44 to the highest level in a month at $60.44, and is estimated to advance another $.79 on Friday for a more than $5…
US wheat futures fell as fund buying slowed and traders prepared for a long weekend in the EU, Black Sea and much of Asia. May Day is Tuesday and traders will start the 4 day weekend early. Funds in Chicago wheat where sellers of 2,700 contracts, but continue to hold a net short position of…
Very quiet trading unfolded in the corn market on Thursday with limited news to drive prices either up or down. US export sales were down from last week, while there was a daily sales announcement of 4 Mil Bu of old crop corn to an unknown destination. Funds were estimated sellers of 4,000 contracts. …
Another quiet and uneventful day of trade unfolded in CBOT soybeans that left prices little changed at the close. Soybean meal marked a strong close and crush spreads rose 4-6 cents/Bu. The spot spread at $1.45/Bu is at a record seasonal level, which should keep US and world crush rates elevated into late summer. …
The summer row crop markets have been caught in a sharp mix of fundamentals in recent months, producing a wide ranging trade. In corn, the US has been the low offer in world feed market which has supported a building export program, while domestic use has been solid amid large livestock herds and generally profitable…
