** AgResource Daily Cattle Analysis: Cattle futures closed firm on Wednesday and a steady outlook is offered for early trade this morning. Early selling on Wednesday was short lived, and April cattle spent most of the day trading higher. Feeder cattle futures were able to build on Tuesday’s reversal and rallied to triple digit gains…
** 6:30 AM CBOT Futures: Mar soybeans are down 1.00 cent at $9.14, Mar corn is down .25 of a cent at $3.785 while Mar Chi wheat is down 1.00 cent at $5.25 ** AgResource Morning CBOT Comment/Analysis: Good Morning! Overnight CBOT markets are mixed as the markets struggle for trading direction. Volume is…
In this week’s report, we take a look at soybean option volatility. Gulf and interior US soybean basis is also discussed.
Rosstat, Russia’s Federal Stats Service, released Dec 31 on-farm wheat stocks overnight. These numbers made clear that Russian wheat supplies are smaller than previously thought, particularly near export terminals. On-farm Dec 1 wheat stocks in Southern Russia were down 42-45% from last year. Stocks were down nationwide, but any real surplus now exists only in…
Brazilian Forecast Unchanged; Argentina Wetter: The general South American pattern is little changed. Expansive high pressure Ridging aloft Brazil will continue to dominate S American. A trend of below normal precip, and net draws in soil moisture, persists in Brazil. Ongoing moderate to heavy rainfall will be funneled into Central and Northern Argentina. Precip anomalies…
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