AgResource Hog Comment and Analysis
** Hogs Fall as Slaughter Capacity Falls on Covid-19 Plant Closures: CME hog futures fell to the new $3.75 trading limit to start the week. The exception was April, which gained $2.10 ahead of Wednesday’s expiration. New trading limits were announced in February and went into effect today. The new daily price limit is $3.75/cwt and…
AgResource Wheat Comment and Analysis
** AM Wheat Rally Fails; Black Sea Forecast Wetter: US wheat futures ended mixed, with KC contracts ending slightly higher and CBOT contracts slightly weaker. Overnight strength failed to hold as global financial markets weakened and the major weather models offered a more normal pattern of precip in E Ukraine and Russia. Funds added to…
AgResource Corn Comment and Analysis
** CBOT Corn Ends Weak; Crude Reacts Poorly to OPEC Production Cut: CBOT corn ended slightly lower. OPEC opted for a historic 10 million barrel/day production cut, but spot WTI crude ended $.35 at $22.41. Total world fuel demand is down an estimated 30% from last year. Ethanol production and blending margins will stay deeply…