World wheat futures continue to march higher. The US dollar ended lower despite a much better than expected US Jobs Report. Today’s performance along with a more measured approach to future US interest rate hikes suggests that the dollar scored an intermediate peak in December. Further weakness in the US dollar will exacerbate the US…
March corn rallied 3 cents with prices firmly resting above all major moving averages. Next resistance lies at $3.88-3.92 March. Corn’s performance at $3.85+ will be a function of Brazilian weather in mid/late January, but the major forecasting models lack any hint of a pattern change. First-crop corn will begin pollinating in the weeks just…
A higher open in Feb hog futures on Friday was met with strong resistance and technical selling above the 200-day moving average, that left the market near the lows of the day. The cash index gained $.2 to $53.25 while the cutout was down $.20 at $69.70. After an extraordinary rally through the 4th…
CBOT soybeans traded higher overnight and continued to advance into the weekend. March soybeans finished up 9.25 cents at their best weekly close in a month. Soy product values followed the soy trade higher, and crush spreads were pressured 1-2 cents lower. Funds bought 6,500 soybean futures on Friday. The last Commitment of Traders report…
Summary: US ethanol production was down 3%. Despite the drop in production, ethanol stocks were unchanged after jumping 3.3% the previous week. It is estimated that blender demand was down about 7%. Drops in blender use is common at the year’s end. The futures-based producer margin appears to have stabilized but blender margins slipped to break-even…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
