Feb hog futures were back and forth through Monday trading in a narrow range and finished the day a nickel lower. Early selling found good demand, but rallies failed to get much traction. The cash hog index gained $.38 on Monday and the weekend slaughter data indicates another $.87 higher for Tuesday. The pork…
Following higher overnight trade, the soybean market spent the day backfilling the overnight gains and settled 2-3 cents higher. Support continues to come from rumors of additional export sales to China, with commercial sources estimating that Chinese gov’t buyers secured 15-20 cargos of US soybeans – and new interest for additional US tonnages. Funds bought…
The Nino SSTA regions are (now) steadily cooling leading to much lower confidence in evolution of a full-tilt El Nino for 2019.
It has been a mixed morning at the CBOT with traders positioning for the coming index fund re-balance/roll that starts tomorrow. The roll is expected to cause the selling in corn/wheat and modest buying in soybeans. Traders expect that the rebalance will pressure the grains – and are positioning accordingly. Soybeans are holding on threatening…
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…
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