US wheat futures settled lower amid weaker energy markets and a sizable rally in the US dollar. Volume was pitiful, and increasingly the world market will enter the coming holiday lull. Fundamentally, we maintain a supportive outlook. EU export data is being revised noticeably higher on a weekly basis, and so world trade is much…
March corn ended 2 cents lower. Neither the bulls nor the bears can garner much leverage amid uncertainty over potential Chinese buying (which may include US corn & wheat) and nonthreatening South American weather. Corn rallies are selling opportunities without lasting heat & dryness for S America. Longer term valuation will center on the extent…
Brazilian Pattern Flips; Drier Trend Expected into Late December: Excessive rainfall in Central Brazil ended in early December, and much drier trend looks to be established over the next two weeks. Coming sunshine will be favorable in the near term but following a year of extremes, the 2018 South American weather forecast will be closely…
Early strength in the hog market was short lived at the start of the week, and hogs were mostly weaker at the end of Monday trading. The lean index was down $.23 to start the week at $55.96, while the weekend slaughter data indicates $.16 higher for Tuesday. Packers reported on Monday that the…
China reported monthly soybean imports for November at 5.38 MMTs of soybeans, which was right inline with expectations. However, it was a 3 MMT decline from last year and the lowest November import rate since 2012 (largely due to virtually no imports from the US). Based on November export data, we expect that a…
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