March corn ended fractionally higher in post-holiday volume. There’s a lack of news except for world weather patterns and the forthcoming index fund roll. Index fund managers will sell the grains and buy the soy complex. The rebalance rarely has a major impact on price. World cash corn markets are firm. Non-US basis levels have…
No Sign of Needed Pattern Change in South America: The weather pattern appears stuck into late January. An expansive high-pressure Ridge will stay anchored aloft across much of Brazil. This will sustain a pattern of below normal precip and rising temps in Brazil & Paraguay. This will also funnel a steady stream of heavy rainfall…
Feb hog futures rallied right from the morning open and traded a wide $2.175 range through the day. However, the rally through the 200-day moving average ran into resistance that left February well under the highs, at the close. The cash index gained $.09 to $53.20, while the pork cutout value was down $.15 at…
Soybeans rallied from the morning open and finished 11-12 cents higher. Rumors of export demand from Chinese Gov’t buyers supported CBOT trade. Funds were estimated buyers of 8,500 soybean contracts. Cash sources tell ARC that China purchased 1.50-1.85 MMTs of US soybeans on Wednesday. Excluding last Wednesday, the Chinese Gov’t has a history of securing…
CBOT soy prices are sharply higher to start 2019. Rumors abound in the cash market that China is back asking for offers and purchasing US soybeans. There are no cash rumors on China buying US grain, but cash connected sources expect that once China finishes their buying of 5 MMTs of soybeans, their attention could…
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