Tuesday was a sharply mixed day of trade in the hog market that left futures lightly mixed but little changed at the close. Feb hogs rallied strongly right from the morning open and were up as much as $1.75 in the first hour, but back below unchanged later in the day. Late day buying picked…
Following mostly firm overnight trade, soybeans were again lower through the day. News reports that negotiations in China were far less favorable than initially reported had soybeans along with other US financial markets under pressure. Funds were estimated sellers of 7,500 soybean, 2,000 soymeal, & 1,500 soyoil contracts. US cash markets have slowly recovered…
In this week’s newsletter, we take a look at corn option volatility, as well as US corn basis levels. Click here to read this week’s Weekly Report
Brazil Still Wetter Next Week; Climate Guidance Stays Drier Than Normal: The nearby South American forecast is unchanged from prior runs, and questions still linger over the pattern there through the end of the soybean growing season. The EU model’s newly released 16-30 day precip guidance is attached. Below normal precip is maintained over the…
World wheat futures ended their weekly losses amid fund selling across the ag space. There’s still limited clarity over the implementation of Russia’s export quota system, but in the meantime rising interior prices there and adverse weather will work to slow Black Sea exports. Replacement costs near ports in Russia is estimated as high as…
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