AgResource Weekly Newsletter, Nov 6
In this week’s newsletter, we take a look at new crop US planted area, as well as recently released USDA long projections. Click here to read this week’s Weekly Report
Wheat Ends Firm on US Planting Progress Delays/Cold Weather
US wheat futures rallied 3-7 cents with the European market following. We’ve highlighted that major exporter stocks will be revised lower again amid production loss in Australia. Sourcing high quality wheat from the interior of Russia remains difficult, and attention will be paid to rising flour prices. There are new concern about the…
USDA Long Term Projections
The USDA’s long-term Baseline Projections were released Friday and they were supportive. There’s little background data from which to base the USDA’s long term forecasts, but GDP and population growth do offer some hints. As expected, the USDA’s macro data featured modest econ growth worldwide and in developed countries. Better economic growth will persist in…
Evening Weather Update
US Forecast Brings Early Winter; Possibly Warmer Early December: The EU and GFS models maintain a rather chilly temp profile beginning this weekend and lasting throughout the 6-10 day period. Mean temps in all areas will exist 8-16 degrees below normal. Mostly dry weather lies ahead, but the drop-in temps will allow lite snow to…
Hogs Fall Sharply On Fund Liquidation
December hogs were sharply lower at Tuesday’s open, and fell to limit losses by late morning. Cash market weakness and chart related selling had funds exiting long hog positions. The cash hog index was down $.04 at $64.08 on Tuesday, while the pork cutout was down $.78 at $74.08. The belly value marked the largest…
