Hogs opened higher on Tuesday as a number of US commodity and financial markets rallied following a successful US/N Korea meeting in Singapore. July found early support on a break back to unchanged, and then marked the strongest close since early March. The CME’s lean hog index rose $1.22 to $75.79 and is estimated another…
The USDA June Crop Report was bullish as US 2018/19 corn, soybean and wheat end stock estimates fell. Combined, US 2018/19 US corn, soybean and wheat end stocks dropped 144 Mil Bu or nearly 4 MMTs. The stocks decline was due to stronger old crop demand. US 2017/18 corn exports were raised to 2,300 Mil…
** The WASDE/USDA report was considered bullish with falls in US 2018/19 US corn, soybean and wheat end stocks. The marketplace rallied following the news, but before traders get too bullish, they want to assure themselves that the US will soft peddle on China regarding trade. If the US does not announce the list of…
Increasing moisture into the U.S. due to tropical events next weekend.
** AgResource Daily Cattle Analysis: Cattle and feeder cattle futures fell along with a host of other commodity markets through Monday on fund liquidation, a steady/weaker outlook is offered for early trade this morning. August cattle crawled higher into late day, and then fell sharply in the last hour. Cash markets stayed quiet and…
