Corn followed wheat to modest gains, while new positions will be lacking ahead of NASS’s objective yield data Wednesday. NASS’s weekly progress report will be released on Tuesday. Another slight decline in US GD/EX ratings is anticipated. Otherwise, harvest will resume in the mid-South by late week following moderate weekend rain. Data there will be…
US & European wheat futures ended sharply higher. ABARES in its Sep Crop Report pegged Aussie wheat production at 19.1 MMTs, below trade expectations. We also mention that this only accounts for weather to date. Complete dryness will be ongoing in both W & E Australia into late September further reductions are possible. Accounting…
US Dry Near Term; Rain Returns to W Corn Belt Sep 18-20: Hurricane Florence is scheduled to make landfall in NC/VA on the weekend and sit there over the followed 3 days. Otherwise, a needed lasting period of dryness lies ahead. Temps will be variable, but it remains that frost/freeze will stay isolated to Central Canada…
ABARES’s September crop report is bullish, and better reflects ongoing crippling drought in Eastern Australia. Wheat production was estimated at 19.1 MMTs, a bit lower than expected and down 2.9 MMTs from USDA. Aussie wheat production by state is displayed above. Steep cuts to yield/acreage were made in NSW, Victoria and Queensland. The 10-day…
Hog futures were higher at Monday’s open, and most contracts closed lower after marking new 2-3 month highs. October was the exception and closed higher, but well under the early highs. December hogs fell more than $1, which pulled the rest of the market lower. The CME’s lean hog index was up $.09 at $46.01,…
