AgResource Hog Comment and Analysis
** Hogs End Mixed at Midweek: CME hog futures were mixed on Wednesday as weaker cash values weighed on nearby futures, while deferred contracts were steady/higher. The CME Lean Hog Index was $.53 lower at $57.93, and Tuesday’s slaughter data indicates $.61 lower for Thursday. For more than a year, the CME has padded the…
AgResource Wheat Comment and Analysis
** CBOT Wheat Recovers Along with Global Financial Markets: CBOT wheat futures ended 4-6 cents higher, having found buying near major chart-based support and as March neared oversold territory. EU cash basis and fob prices remain firm as stocks there tighten. An outright bearish pattern awaits clarity on Northern Hemisphere growing conditions – but weather…
AgResource Corn Comment and Analysis
** CBOT Corn Recovers as Phase One Implementation Imminent: CBOT corn futures rallied 3 cents. Long term fundamentals remain bearish on rallies. However, the US & China’s Phase One agreement will be implemented no later than Feb 14th, and ARC doubts the spec community will add to its net short position ahead of a 3-day…