US wheat futures rallied 1-5 cents, with similar gains noted in Europe. US exporters this AM sold two cargoes of spring wheat to Bangladesh, and this follows last week’s Saudi business. Both are at times marginal buyers of US origin, but not this early in the crop year. Additional non-traditional business lies ahead. We’ve…
CBOT corn futures fell 2 cents, with Dec still unable to settle above its 50-day moving average. This is understandable ahead of a major USDA report. Our only comment is that a yield of 182+ is needed Thursday to turn bearish at $3.65 December. Otherwise, a normal seasonal recovery lies ahead. Recall funds maintain a…
Rain Continues Next 48 Hours; Drier Conditions Follow: Moderate to heavy rain lingers across the E Plains/Midwest into Thursday. Another 1-3” impacts TX, OK, KS, MO and the whole of the Western Corn Belt. However, The EU and GFS models are drier in the 6-15 day period, which is favorable. 7-day precip accumulation is at…
December hogs gapped lower at Tuesday’s open and stayed in the red into the end of the day. The lean hog index gained a nickel to $69.36, but we estimate $.03 lower for Wednesday which is likely the start of a supply driven cash market correction. IA State University’s updated estimates for hog producers…
In this week’s newsletter, we take a look at current US corn & soybean basis levels and whether any changes lie ahead?
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