AgResource Hog Comment and Analysis
** Hogs Close Lower in China Disappointment: Hog futures were quietly lower on Thursday as the market consolidated strong early week gains. The lean hog index was down $.12 at $55.54, but Wednesday’s slaughter data indicates a $.23 gain for Friday. The index will still mark a $.92 decline for the week, but Friday’s gain…
AgResource Wheat Comment and Analysis
** CBOT Wheat Ends Lower Amid Limited Demand News, Favorable World Weather: CBOT wheat futures ended lower but found support at key chart-based resistance. May CBOT’s 20-day moving average sits at $5.57. A close below this foreshadows the return to a range of $5.40-5.55 into early spring. The USDA kept its 2020 Us all-wheat acreage…
AgResource Corn Comment and Analysis
** Corn Extends Decline Following First Day of USDA Outlook Forum, Record Ethanol Stocks: CBOT corn futures ended weaker as presentations at today’s Outlook Forum lacked bullish insight. Chinese demand and spring weather patterns are awaited, but the longer-term concern remains oversupply and the risk of downgrade to production margins in 2020. The USDA pegged…