Soil Moisture Improvement Continues in Brazil; Argentina Trending Drier: The South American forecast is little changed from prior runs. Widespread rainfall impacts the whole of Brazil’s crop belt through the weekend. Daily shower activity will persist indefinitely across Mato Grosso, Goias and Goias, or some 50% of Brazil’s safrinha corn belt. High pressure Ridging in…
Hog futures traded and closed mixed through Wednesday, with nearby prices under pressure while summer hog futures marked another day of good gains. The lean hog index was down $.23 at $55.91, and we estimate a $.39 decline for Thursday. While the hog index has declined through February, the cash market is still close…
Soybeans held in a tight range through Wednesday’s trade and were down a penny at the close. Soybean market specific new was limited, though comments from both the Whitehouse and President Trump were upbeat about a possible trade agreement. With the January Crop report finally released, the trade typically turns focus to new crop…
Like other markets, US and world wheat futures await US-Chinese trade progress and a flood of USDA data due in the next two weeks. US markets found support ahead of Thursday’s export sales report, in which US demand should show another modest boost. We also mention winterkill risks will remain elevated as bitterly cold Central…
CBOT corn futures ended flat and traded in just a 3-cent range. Thursday’s weekly export sales data should offer support, with sales through the week ending Jan 3rd estimated in a range of 30-35 Mil Bu. This week’s EIA report also featured enlarged ethanol production and a decline in ethanol stocks. US ethanol production last…
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