World wheat futures ended weaker. European contracts fell €1.25-1.75/MT ($.04-.05/Bu) as Algeria’s surprise tender this week may be awarded to the US or Argentina instead of France. French wheat is quoted at $242/MT for spot delivery, vs. Gulf HRW at $232. This discount roughly offsets the extra freight into N Africa. We also highlight a…
Feb hog futures were back and forth through Monday trading in a narrow range and finished the day a nickel lower. Early selling found good demand, but rallies failed to get much traction. The cash hog index gained $.38 on Monday and the weekend slaughter data indicates another $.87 higher for Tuesday. The pork…
Following higher overnight trade, the soybean market spent the day backfilling the overnight gains and settled 2-3 cents higher. Support continues to come from rumors of additional export sales to China, with commercial sources estimating that Chinese gov’t buyers secured 15-20 cargos of US soybeans – and new interest for additional US tonnages. Funds bought…
The Nino SSTA regions are (now) steadily cooling leading to much lower confidence in evolution of a full-tilt El Nino for 2019.
It has been a mixed morning at the CBOT with traders positioning for the coming index fund re-balance/roll that starts tomorrow. The roll is expected to cause the selling in corn/wheat and modest buying in soybeans. Traders expect that the rebalance will pressure the grains – and are positioning accordingly. Soybeans are holding on threatening…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
