The Black Sea region is of course a major producer & exporter of grain, and so weather there is always important. But, the market has been especially sensitive to recent (and upcoming) dryness amid rapidly expanding acreage in Russia & Ukraine. In its May WASDE, the USDA pegged 2018 harvested corn area in the Black…
Forecast Warmer in First Week of June: The Central US weather pattern into the middle part of June remains broadly non-threatening to spring row crop production. However, extreme heat is noted, and a shift to a lasting period of cooler temps is unlikely. The EU & GFS models also continue to lack agreement. ARC’s lean…
CBOT corn futures ended 6 cents lower. US corn crop conditions as of Sunday were well above average, as recent heat has accelerated growth. 79% of the crop is rated as good or excellent, which is tied for a record for this particular week. High ratings will be maintained over the next week, but direction…
Wheat followed other raw material markets lower, and ARC notes that heavy rainfall (1-4”) has impacted much of Western KS in the last 24 hours. HRW crop ratings continue to improve, though we remain concerned about final head weight/size amid ongoing extreme heat across the Plains. 10% of the crop in Kansas is yet to…
Hog futures were higher at Tuesday’s open, and extended gains through the day. Tuesday’s rally was led by June, while July hogs stopped just short of $79. The CME’s lean hog index rose $.15 on Tuesday to $69.44 and the weekend slaughter data projects a $.02 gain for Wednesday. The index has marked gains…
