AgResource Hog Comment and Analysis
** Hogs Inch Lower on Weak Financial Markets: CME hog futures had resistance on rallies above unchanged on Friday and were $1-1.30 lower at the close. The hog market is still trying better to understand the long-term implications of the coronavirus outbreak, and what it means for both export and domestic red meat demand in…
AgResource Wheat Comment and Analysis
** Wheat Futures Recover from Session Lows; Currencies Hurting US Export Potential: May CBOT wheat ended 2.5 cents weaker but some 13 cents off its AM low. ARC estimates that managed funds this week sold a net 25,000 contracts, and as the market nears oversold territory some measure of stability is expected. However, fundamental bullish…
AgResource Corn Comment and Analysis
** CBOT Corn Ends Firm; Chart Healing Needed: CBOT corn futures ended flat as contracts on Thursday touched oversold technical conditions. The market in recent weeks has digested rising South American production potential as well slowing future GDP growth. It’s tough to be fundamentally bearish below $3.60, basis May, but the spark needed to trigger…