AgResource Weekly Newsletter, Sep 5
In this week’s newsletter, we take a look at 2019/20 global wheat supply & demand.
US Grain Exports in July
The International Trade Report on Thursday showed that the record soybean export pace continued through July. US exports for the month were counted at 126 Mil Bu, nearly 8 Mil Bu more than what had been reported by FAS in their monthly inspections report, and 48% more than was exported a year ago. In continuing…
Evening Weather Update
US Forecast Much Wetter in Eastern Midwest: The EU & GFS models are drier across the W/NW Corn Belt, which is favorable following excessive rain there. However, the remnants of Hurricane Gordon will combine with ample moisture to produce similar flood risks across the E Corn Belt into early next week. The Eu model’s 5-day…
Hogs Close Firm, Cash Markets Stable
October hogs closed up $.90 on Wednesday while the rest of the market was lightly mixed around unchanged. The cash market is stabilizing and hog futures continue to find fund demand. The cash index was down $.19 on Wednesday at $45.44, and we estimate a $.23 gain for Thursday – the first increase since late…
Wheat Ends Lower Following Egypt Tender
US wheat futures fell 9 cents amid renewed fund liquidation. Egypt this morning bought a cargo of rather cheap Russian wheat at $218/MT, vs. quoted offers Tuesday of $225-227. Russian exporters remain aggressive, mostly due to looming threats of government intervention. The pace of Russian exports will act to boost domestic prices. The battle between…
