The November USDA Crop Report offered surprises. The domestic surprises were bullish with a US 2018 corn yield of 178.9 BPA, a soybean yield (down 1 BPA from October) at 52.1 BPA, and sorghum yield that fell 5% to 71.4 BPA. The exceptional wet/windy October weather had an adverse impact on US major grain production…
Hog futures closed lower on Thursday on continue technical selling. The cash market continues to grind lower, though Dec has been supported by the wide $8 spread to the lean index, while Feb has been under technical pressure all week. After falling under 200-day moving avg on Tuesday, Feb closed under the 100-day moving average…
Arctic air emerges this week across central and south Russia but is forecast to erode/weaken in the extended-range.
The first stratospheric warming event causing arctic air to form emerges over Russia this weekend.
The U.S. week 2-4 outlook identifies erosion of the short-term cold but that cold lurks nearby in Canada and can extend to the Northeast U.S.
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