Weather issues persist in Brazil, Ukraine and Russia. But in the US crop ratings remain near historical highs. Rainfall early this week will provide more of a buffer against the coming pattern shift. Crop ratings as of Sunday were pegged at 77% GD/EX, vs. 78% a week ago and 67% last year. Funds sold a…
The US pattern is very little changed from outlooks released last week. Moderate rain will continue across the C & E Midwest into mid-week. A shift to warmer & drier weather occurs thereafter. Dryness in the near term will be welcomed following recent soaking rain. The issue ahead is whether the coming pattern will be…
Reports from NASS almost always garner a strong price response in both CBOT grain futures markets, and cash commodity market prices. Often, it’s the stocks data that drives the market response, as the report provides the final view of grain supplies for the year and allows the market to determine whether price needs to increase…
Broad based Ag commodity weakness, along with ideas that the cash hog market is nearing its seasonal top weighed on CME hog futures at the start of the week. July hogs fell back under all major moving averages, while August finished just above contract lows. The lean hog index rose $.38 on Monday to $86.17,…
A host of US and world financial markets started the week under pressure from trade concerns, which also weighed on CBOT soy markets. Soybeans paced the day’s decline and were down 20 cents, with meal and oil following. Soybean crush spreads rose 2-4 cents with July marking the best close in more than a month…
