CBOT corn futures fell 3-5 cents. This may be attributed to rumors of Swine Fever impacting Canada, which are unfounded, but generally world grain cash markets have been correcting since early February. EU barley prices have found new seasonal lows amid the absence of demand from China and Saudi Arabia. Feed wheat prices have following…
South American Forecast Favorable; Argentine Rain to be Monitored: The EU & GFS models remain in good agreement on the near term South American pattern. Blocking high pressure aloft stays absent from Brazil through the period, and so a pattern of daily lite/moderate rain occurs. Boosts in soil moisture will be widespread, which will improve…
The Chicago Federal Reserve released it’s quarterly AgLetter last week. The report is a quarterly update on 7th District (N Il, N IN, IA, and WI) farmland values, as well as updates on current farm credit conditions, and is based on a survey of agriculture banks across the district. Compared to the 3rd quarter of…
CBOT soybeans were weaker by the end of the overnight market and traded lower through the day on Tuesday. There was little news of interest for the soybean market specifically, but funds showed up as sellers across a host of commodity markets to start the week. Funds were estimated sellers of 8,500 soybean contracts on…
Hog futures were under pressure right from the morning open and reached limit losses within minutes of the morning open. At the close, April through August contracts were all down the $3 trading limit. Synthetically, April hogs were another $.20 lower in the options market while July was another $.50 lower. The lean hog index…
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