Brazilian Forecast Unchanged; Argentina Wetter: The general South American pattern is little changed. Expansive high pressure Ridging aloft Brazil will continue to dominate S American. A trend of below normal precip, and net draws in soil moisture, persists in Brazil. Ongoing moderate to heavy rainfall will be funneled into Central and Northern Argentina. Precip anomalies…
March corn ended unchanged. But while the US futures market awaits USDA data and a clearer picture on US-China trade, cash markets continue to do their job. Gulf corn remains the world’s cheapest feedgrain for spot delivery. Corn’s position in the world market is plotted against weekly export sales at left. There’s little doubt export…
US wheat futures extended their recovery as concern over Black Sea supplies become more tangible. ARC highlighted in tonight’s wire that on-farm stocks in Russia as of Dec 31 were surprisingly low. Already there’s a need to slow (or halt) Russian wheat exports. There’s also evidence to suggest the USDA’s domestic wheat disappearance forecast is…
Hog futures were lower at the start of Wednesday’s trading. April marked a low in the first half of the day and losses were pared back by late day buying. The hog index gained $.26 on Wednesday to a 10-week high of $58.33, and we estimate another $.25 higher for Thursday. After a strong…
Soybeans marked a quiet inside day of trade on Wednesday before ending 5-6 cents higher. Market news remains slow at midweek, but traders continue to focus on dryness across Brazil along with the next round of US/China trade negotiations. Soybean oil marked the best gain for the day, following the Chinese soyoil and Malaysian palm…
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