AgResource Weekly Newsletter, June 13
In this week’s newsletter we take a look at the pace of new crop US wheat exports. Crop condition yield models are also updated.
World Wheat Supply & Demand
By any fundamental measure, the world wheat balance sheet has tightened considerably since 2006. World stocks remain a near record large 266 MMTs. But 139 MMTs (52%!) are stuck in China. China will not be an exporter of wheat, and so available exportable supplies are down sharply from recent years. This has been included in…
Evening Weather Update
Heat Returns; Models Struggle Beyond 5-Day Period: The EU & GFS models are in great agreement over the next 5 days, but uncertainty dominates thereafter. Key is activity in the Gulf, which will affect the mean position of high pressure aloft. Both models maintain normal/above normal temps throughout the next 8-10 days. In the very near…
AgResource LATAM, June 13
Thank you for subscribing to AgResource LATAM! Click here to view this week’s report
Hogs Extend Gains In Technical Trade
Hog futures extended gains through midweek on continued strength in the cash market and technical trading. August led Wednesday’s rally, while June was at $81 ahead of Thursday’s expiration. The hog index rose $1.39 to $77.18 and we estimate $1.53 higher on Thursday, when trading in the June contract ends. On Monday packers had…
