AgResource LATAM, December 11
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AgResource Analysis of the December USDA Report
Vanilla describes the USDA December crop report. WASDE trimmed US corn and wheat demand slightly, and raised Brazilian soybean production slightly, but otherwise the data did not produce needed inspiration for the marketplace. Following the report, CBOT corn/soybean futures rallied as traders bet on China’s promise of large US ag purchases. Rumors persist that China’s…
Hogs End Mixed on Nearby Weakness
Mixed trade unfolded through the hog market through Tuesday trade that left early 2019 contracts lower, while summer contracts were just above unchanged. Feb marked the largest loss and stopped just above the 50-day moving average. The lean hog index gained $.16 to $56.12, though we estimate a $.14 decline for midweek. The Dec…
Cold U.S. Forecast for January and February
The open Norwegian Sea north of Europe warms the polar atmosphere causing the polar vortex to split and depart the northern latitudes. The blocking pattern favors returning cold and snow to the East U.S. Warming from El Nino will battle this pattern so expect a lot of volatility.
December WASDE Slightly Bearish for Grains; Traders Back to Watching for Chinese Demand!
** AgResource December USDA Crop Report Analysis; The USDA December Crop Report was slightly bearish corn/wheat, but neutral on soybeans. WASDE raised US 2018/19 wheat end stocks by 25 Mil Bu and US corn stocks by 50 Mil Bu by cutting demand. WASDE cut its US 2018/19 US corn ethanol production by 50 Mil…
