World Corn Trade Update

We’ve highlighted recently how corn below $3.80 is fundamentally cheap. This is true despite adverse weather in South America, which looks to continue into the final days of January. Corn’s recovery from multi-year lows in 2016 has been mostly driven by supply dislocation, but we do that demand has contributed to the rally. It’s been…

Evening Weather Update

Brazilian Forecast Unchanged; Lite Rain Not Enough: The EU and GFS remain in general agreement on South America’s nearby pattern. Both models are little changed from prior runs. Marginally better shower activity begins on the weekend, but it remains that totals will be far below average. Net draws in soil moisture are probable through Brazil’s…

Hogs End Mixed on Nearby Strength

A sharply mixed day of trade unfolded in the hog market. Feb hogs fell to new lows and uncovered strong demand, that carried the market higher into late in the day, while the rest of the hog market quietly traded lower. February traded a wide $2 range, while April traded a narrow $.90 range inside…