AgResource Hog Comment and Analysis
** Hogs Sharply Mixed at Midweek: Volatility in hog futures and spreads continued Wednesday. April hogs closed $.325 lower while May and June were each more than $3 lower. The CME lean hog index gained $.45 to $59.74, and we estimate $.85 higher for Thursday. The pork cutout gained $.48 to $74.90. The US/Canada agreed…
AgResource Wheat Comment and Analysis
** World Wheat Markets End Firm Again; KC Wheat Leads US Advance: US & world wheat futures ended higher, with cash offers stable. There’s talk of Chinese interest in hi-pro US origin. Wheat will enter its weather market first and increasingly weather will occupy some fraction of price determination. A pattern of dryness will persist…
AgResource Corn Comment and Analysis
** CBOT Corn Unable to Find Bottom; GFS Hints at Needed Rain in Brazil: CBOT corn futures ended sharply lower, with May having broken through chart-based support at $3.40. Next support lies at $3.20, but key to stability in corn is finding a bottom in the world’s energy markets. This week’s EIA report featured US…