** AgResource Daily Cattle Analysis: Cattle futures closed lower on Wednesday and a steady/weaker outlook is offered for early trade this morning. Profit taking has unfolded over the last two sessions as traders have become cautious to chase the market at new contract highs. Cash cattle markets went untraded through Wednesday. Packers have…
** 6:30 AM CBOT Futures Are; March soybeans down 1.25 cents at $9.0575, March corn up 1.50 cents at $3.7725 and March Chi wheat up 1.75 cents at $5.0875. ** AgResource Morning CBOT Comment/Analysis: Good Morning! CBOT futures are mixed overnight as the struggle between the bearish macro financial markets and bullish South American weather…
In this week’s newsletter, we take an in-depth look at Sep-Nov US corn, wheat and soybean supply & demand. This includes final US corn & soybean yield estimates.
It’s unknown whether NASS’s January report will be released as there’s no clear sign the US government will reopen in the near term. However, there’s more data indicated US winter wheat acreage will be no larger than last year, and in fact my shrink to a new 110-year low. The graphic attached shows wheat acres…
US & European wheat markets ended slightly higher. World cash values followed. The graphic below shows that following the boost in non-US prices, Gulf HRW is the world’s low cost high quality milling origin for spot and deferred arrival. Gulf HRW is offered in March $15/MT below Russian origin, and this roughly offsets Russia’s freight…
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