AgResource Hog Comment and Analysis
** Hogs Trade Quietly on Friday, Close Higher For The Week: A lower start found good demand that left most hog contracts near the highs of the day. The CME’s Lean Hog Index is building support at 5-month lows and was $.24 higher on Friday at $55.78. Thursday’s slaughter data indicates a $.09 gain for…
AgResource Wheat Comment and Analysis
** CBOT Wheat Ends Sharply Lower; Fund Length Nears Record High: CBOT wheat futures settled 5-9 cents lower. The market turned weak at midday as macro markets are watching the spread of coronavirus outside of China. The USDA, like most in the trade, project a further tightening of US wheat supply & demand in 2020.…
AgResource Corn Comment and Analysis
** CBOT Corn Struggles Following Outlook Balance Sheet: CBOT corn futures ended slightly weaker on Friday. The USDA’s Outlook Form balance sheet paints a picture of oversupply with normal weather. It remains that the market’s perception of swelling US corn stocks needs to be changed – via weather – to prevent a steep correction in…