Early AG Market Wire: Wet U.S. AND Europe/Western Russia
A wet pattern continues in the U.S. with wetter trend in Europe to Western Russia.
CME Cattle Called Steady Awaiting This Week’s Cash Trade; North American Weather Forecast Calls for Additional Rain
** AgResource Daily Cattle Analysis: Futures closed lower on Tuesday and a steady outlook is offered for early trade this AM. Live cattle futures remain under pressure from weakness in the beef market and expectations for steady/lower cash trade this week. Feeder futures are under pressure from lower prices in the deferred live cattle prices…
CBOT Sees a Technical Correction Overnight on USDA Aid Program Confusion; Central US Weather is Forecast Wet into June 7th
** AgResource Daily Farm Marketing Advice for Tuesday: 1/ Corn Producers: Sell/hedge 20% of the estimated 2020 corn crop at $4.19 and another 20% at$4.24 basis Dec 2020 futures. This would price 60% of the anticipated ‘20 corn crop at an average of $4.19. 2/Corn Producers: Sell 20% of the 2021 corn crop $4.24 and…
AgResource Farm Marketing Advice
AgResource Daily Farm Marketing Fills for Tuesday: 1/ Corn Producers: Exited long June $3.90 corn calls at 9 cents for a 1.25 cent gain. 2/ Corn Producers: Sold/ Hedged 20% of the 2020 US corn crop at $4.14. 3/ Corn Producers: Sold/ hedged 20% of the 2021 US corn crop at $4.21 AgResource Daily Farm…
Wheat Ends Flat; Farmer Selling Battles Bullish Weather
US and European wheat futures ended near unchanged. Farmer selling in the US capped the morning rally. ARC detailed in this evening’s report how recent and upcoming rains will trigger moderate downgrades to US winter wheat production. HRW basis has been firm on the rally and is still well above recent years. HRW protein will…
