Dec corn traded in a narrow 3 cent range, ending a penny lower. Producers are making their way back to the fields, but new yield data isn’t yet available. The highlight today was a rather bearish US energy report, with crude falling to a new 4-week low, and ethanol and gasoline futures following. US…
US wheat futures continue to reel from their inability to break through technical resistance. Dec Chicago is caught between $5.05-5.30, and awaits fresh input for direction. World cash prices are again little changed. Volatility is in retreat, as evidenced in weekly price ranges. A wet pattern is offered to the whole of South American…
US Dryness Persists into November: The Central US forecast is unchanged from prior runs, if a bit drier in IN and OH next week and beyond. A rather normal upper air flow is expected into early Nov. The lack of deep low pressure aloft the Northern US will keep meaningful precip absent. Temps remain variable,…
December hogs were under pressure to start the morning and chart related selling took the market $2 lower at midweek. The hog index was off $.16 for Wednesday and we estimate another $.42 lower for Thursday. The pork cutout marked a multi month high on Monday at $81.50 and has since eased into midweek.…
Soybeans were firm at the end of an exceptionally dull trading session. November soybeans repeatedly had support on breaks back below unchanged, but rallies lacked the muster to break out of Tuesday’s trading range. Funds bought 2,000 contracts each in beans and meal. National soybean harvest was behind normal last week at just 38%…
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