*****Morning Commentary**** ** 6:30 AM CBOT Futures Are; March soybeans up 1.50 cents at $9.2575, March corn is up 1.75 cents at $3.84 and March Chi wheat is up 2.25 cents at $5.19. ** AgResource Morning CBOT Comment/Analysis: Good Morning! Moderate volume and mostly higher is the CBOT overnight. The market awaits news on the…
Summary: Brazil shipped 520,000 MT of soybeans last week. That’s up from the previous week’s 199,000 MT and it is above a year ago. According to cargo services data, Brazil’s export “commitments” were 84.67 MMT. That is down is down 218,000 MT from the previous week. This is the first time that commitments declined week to…
Highlight: Evolving snow and cold Northeast U.S. Charts of the day: The ECM and GFS 10-day snowfall forecast. Discussion: The 10-day GFS and ECM snowfall forecast indicate a bias toward increasing snow cover for the northeast sector of the U.S. and southern Quebec. The GFS forecast spreads heavy snow to the Mid-Atlantic and Northeast U.S.…
Soybeans were higher overnight and extended gains through the day session. Support was established overnight against the 50-day moving average, and technical buying continued to support March soybeans into late Friday. Funds were estimated buyers of 11,000 soybean contracts, and 1,500 contracts each in meal and soyoil. The political impasse in Washington has continued…
Following a firm start to the day, strong demand developed in CME hog futures which took prices to strong gains into late in the day. At the high, April hogs were $2.775 higher for the day but ran into resistance against the contracts 200-day moving average. CME hog crush spreads were lower on the…
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