Dec corn fell 2 cents on limited fresh news. A drier US weather pattern is probable next week, but near-term flooding will be widespread amid another 2-4” of rainfall. Quality issues will be watched closely across; KS, MO and IA. Funds sold 7,000 corn. Seasonal price recoveries are normal after October 12th. Strong demand…
US wheat futures ended 2-7 cents lower; EU futures ended flat. Talk that Russia could release 1.5 MMTs of reserves into the domestic market is cited, but our contacts suggest this is far from certain. Otherwise, the trade looks to consolidate ahead of Thursday’s WASDE. USDA reports in recent months have been surprisingly bearish, and…
Central US Moisture Woes Just Beginning; Extended Forecast Drier: The EU & GFS models begin the week in agreement. Needed dryness is forecast beginning this weekend, though with additional precip to favor the Southern Plains and Delta. NOAA’s 8-14 day outlook agrees that fieldwork is very likely to resume in the second half of October.…
Major exporter wheat production and stocks continue to decline. Attention on Thursday will be centered on the Aussie balance sheet. The USDA begins the process of fine-tuning Aussie grain production within its Sep WASDE, but is known to fully account for growing condition in October and November. The graphic shows the relatively mundane changes made…
Hog futures were unchanged or higher at the end of quieter trading on Monday. October finished just under the cash index, with just 4 days of trade remaining, while the index was $.16 higher at $69.31. The weekend slaughter data indicates a nickel higher for Monday, but the declining momentum is a likely indication that…
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