Early selling in the hog market found good demand, that lifted hog futures higher into late in the day. April hogs led the recovery, while June hogs traded down into, but failed to close an open chart gap left on Tuesday. The hog index ended the week down $.31 at a five-week low of $55.24,…
An early break in the soybean market uncovered demand and futures were 3-4 cents higher at the close. CBOT markets continue to struggle for direction and have ebbed and flowed due to the latest news or rumor on US/Chinese trade talks. The tone from Washington on Friday was positive, and the market rallied ahead of…
Extended Range Forecast Wetter in Brazil; Showers Still Offered to Central Argentina Next Week: The EU & GFS models have added to precip totals and coverage in Brazil in the 11-15 day period. ARC’s climate scientist hints that that this pattern of normal/above normal rainfall will be sustained into early March. Upcoming heavy precip will…
Corn struggled to find direction amid competing inputs. Another round of US/Chinese talks lie ahead next week. The market doesn’t want to be caught short should a US/China ag package be announced. The US suggests that China and US will be signing MOUs on the points that there is agreement. This is a likely lead…
The February NOPA crush report showed a monthly soybean processing rate of 171.6 Mil Bu. The figure was near unchanged from December and was 8.5 Mil Bu larger than last year, the largest January crush total on record. On a per day basis, the NOPA crush continues to hold near all-time highs, as US capacity…
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