After lowering the soybean export forecast through the early months of 2018, the USDA has held the estimate steady at 2,065 Mil Bu through the last several WASDE reports. Thursday’s export sales report showed total export commitments at 55.4 MMTs or 1.6 MMTs less than a year ago and the 2nd largest on record. …
A steady start found selling ahead of the weekend putting the hog market lower for Friday. The cash index marked an $.87 gain to $67.01 and is estimated $.73 higher for Monday. Placed against hog feeding margins declined through last week on weaker hog prices and slightly higher feed costs. This kept pressure on…
July soybeans traded firm through Friday. The USDA announced large export cancellations of 829,000 MTs of old crop soybeans and 120,000 MTs of new crop soybeans to an unknown destinations, but strong rallies in the corn and wheat markets offered support to the soy trade. Small amounts of those cancellations were resold. Soybean…
The Australian climate outlook is looking drier than previous expectations. Argentina/Brazil are HOT SPOTS as analog forecasts (near normal rain) differ from very dry probability forecasts.
Wheat rallied sharply again, driven by ongoing weather issues and as new money was put to work in US grain markets. But once again Gulf wheat is completely non-competitive in the world market, and so it’s up to Mother Nature to push spot futures to recent highs. We advise catching up on sales/hedges at current…
