The October Cattle on Feed report is viewed as bullish relative to expectations. The September placement rate fell well short of both last year and the avg trade estimate. This also put October 1 cattle feed supplies short of expectations, but still above a year ago. The chart shows that the on-feed total of…
Dec corn fell another 4 cents and ended a shade below its 50-day moving average. Next support rests at $3.55. Whether a test of this is warranted will hinge upon actual yield results, which will begin finding the market next week. Funds on Tuesday were long a net 20,000 contracts – and long for the…
Nearby Forecast Conducive to Harvest; Return of Rain Possible Late Oct/Early Nov: The GFS model is much wetter in the 8-15 day period. Soaking rain and lite snow is offered to the Central and Eastern Midwest beginning next weekend. So far, the other forecasting models are not in agreement with the GFS but a close…
An early rally in December hogs was short lived by technical selling against the contract’s 100-day moving average. Selling continued into late in the day and left December hogs at a 2 month low. The Commitment of Traders data showed that through Tuesday funds had been net buyers for the week of 1,700 contracts, and…
US and EU wheat futures shrugged off weakness in row crops. Funds in Chicago on Tuesday were short a net 17,000 contracts, unchanged on the week. And we mentioned Thursday that Russian fob prices for Jan/Feb have rallied to levels above US & European offers. And the rally in interior Russian prices continues unabated –…
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