AgResource Hog Comment and Analysis
** Hog Futures Close Higher On Fund Buying: CME hog futures notched another day of gains with summer futures leading the advance. The cash index moved the other direction and was down 3 cents at $56.22. However, the Prior Day Slaughter report indicates $.25 higher push for Thursday. Brazilian fresh/frozen pork exports for February were…
AgResource Wheat Comment and Analysis
** Wheat Resumes Correction on Fund Liquidation: May CBOT wheat ended 9 cents lower. There’s little fresh wheat specific news available. ARC estimates that since last Tuesday managed funds have sold a net 16,000 contracts – and so maintain a net long position of 26,000 contracts. The attached graphic shows that fund length in late…
AgResource Corn Comment and Analysis
** CBOT Extends Rally on Lack of CBOT March Deliveries: CBOT corn futures ended higher led by the expiring March. A complete lack of deliveries against March continues. This serves as a reminder of regional supply tightness across the Central US – as evidenced by the attached basis chart. Other news was lacking. The afternoon…