Argentine crop production will rebound massively in 2018/19. With Jan weather now known, it looks to end up being a rather normal growing season, particularly across the heart of Argentina’s Crop Belt. Too much rain has fallen in some areas, but the heaviest rain impacted just 25% of the crop belt. This region also accounts…
Brazil Slightly Wetter Next 7 Days: The EU & GFS models are in better agreement on South America’s near-term pattern. Both have added to rainfall amounts and coverage across the northern third of Brazil’s crop belt, while also keeping excessive rainfall in Argentina north and west of major producing areas. The forecast leans a bit…
March corn rallied 2 cents following Trumps mention of Chinese demand for US corn Thursday. Medium chart support at $3.76 has held again and should continue to so into the Northern Hemisphere growing season. Funds on Dec 24 were long a net 98,000 contracts. Fund length since late Dec has been reduced slightly. We highlighted…
It was a bullish day in the US wheat market with contracts at all exchanges ending 6-11 cents higher. Potential Chinese demand lies in the background, but other fundamental input is supportive. The CFTC put managed funds position in Chicago as of Dec 24th at net short 17,000 contracts. ARC estimates funds today are short…
Hog futures traded quietly mixed on Friday, consolidating the week’s losses and ending mostly firm at the end of the week. The exception was April, which slipped to new lows and was a dime lower for the day, while October jumped $1.20 and closed back over the 50-day moving average. The lean hog index was…
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