Dec hogs were sharply lower at the open on Thursday, but the early break found good support and losses in Dec and Feb contracts had been pared back by the close. The rest of the hog market rallied on the Chinese optimism that swept through the Ag trade on Thursday. Summer hog contracts were all…
CBOT soy markets rallied right from the morning open on comments from President Trump, indicating that he had spoken with Chinese President Xi via telephone, and that they had agreed to meet at the end of month G20 Summit in Argentina. This news rallied soybeans $.30 higher for the day, with meal and oil following.…
US & European futures ended moderately higher. It’s a holiday in parts in Europe, though markets there are open, and the trade is turning its focus towards increasingly competitive offers outside of the Black Sea. US weekly export sales totaled 21 Mil Bu, a 5-week high. Interest in US wheat has been rising modestly…
Dec corn rallied 3.5 cents, which validates corn’s established range of $3.65-3.85, basis spot. Excitement today was isolated to soybeans, and to a lesser extent wheat. However, until final US yield is known and South America’s early harvest nears a neutral pattern will continue. Funds bought/covered a net 15,000 contracts. US export sales through…
The EIA’s monthly Biodiesel Production report on Wednesday showed an August B100 production rate of 169 million gallons. The figure was up 5 million gallons from July, 20 million gallons more than a year ago, and the largest 1 month B100 production rate on record! Biodiesel producers brought 2 additional plants online during the month…
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