Weaker cash market trends and technical trading kept the hog market under pressure through Thursday. July struggled under its premium to the cash index and upcoming expiration, while August finished near the middle of the day’s range after finding resistance against the 50-day moving average. The cash index was down $.46 at $82.51. The…
In this week’s newsletter, we take a look at 2018 global corn supply & demand, as well as current global corn trade.
With no news on trade negotiations or tariffs, CBOT soy markets slumped to new lows on Thursday. China announced that it would not impose any tariffs until US tariffs are in place, which are expected to go into effect on Friday. Funds were estimated sellers of 5,000 soybean, 2,000 soymeal, and 1,500 soyoil contracts. …
Wheat futures rallied to sharp gains – in spite of looming US tariffs – as crop loss is in focus. The 4 MMT cut to French production last week will be followed by downward revisions in Central Europe. Paris milling wheat futures rallied similarly. The graphic below makes clear that European markets are leading other…
CBOT corn futures ended fractionally higher, and there was simply little for the trade to do ahead of this evening’s (likely) US tariff implementation. Simultaneously, steep declines in soil moisture lie ahead for the Central US and much of Central Europe. The EU looks to be one of the largest corn importers in 2018. The…
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