Uneventful trading unfolded in the hog market to end the week. December found support against the 200-day moving average and was little changed at the close, but higher for the week, while summer hog contracts were all just below contract highs that were also traded this week. The hog index gained $.17 to $64.07. …
Fund short covering supported a strong soybean rally overnight, though gains were pared back by the morning open. January soybeans end the week $.30 higher and marked the 2nd consecutive close over the 100 day moving average, which has not happened since May. Commitment of Traders data showed that as of Tuesday, funds had sold…
The International Trade Report on Friday showed that US shipped 119 Mil Bu of soybeans during the month of September. The figure was down 28% from a year ago, but still slightly better than the 117 Mil Bu reported in early October by the USDA’s FAS. Key destinations during the month were: Mexico (13 Mil…
US & EU wheat futures ended flat on the day and week. Little fresh news was available, and all eyes will be on the Black Sea cash market next week – and whether interior Russian prices continue to move higher. The graphic below shows weekly Russian flour prices, which have not surprisingly moved up rather…
US Forecast Trends Wetter Again: The US forecast at the end of the week limits coming dryness to just 5-6 days across the Central and Eastern Midwest. Additional soaking is due through the weekend across much of the Corn Belt. The EU & GFS models are in general agreement that moderate to heavy precip returns…
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