AgResource Hog Comment and Analysis
** Hogs Rally to Limit Gains to End the Week: Hog futures gapped higher and finished with limit gains in May/June contracts at the close. The CME lean hog index was $2.45 higher on Friday at $54.70, and the Prior Day Slaughter report indicates a $2.56 increase for Monday. Formula hogs killed on Thursday averaged…
AgResource Wheat Comment and Analysis
** CBOT Wheat Futures Resume Correction on Improved World Weather: July CBOT wheat ended 9 cents lower on a lack of bullish input. Decent rain continues to fall across Western Europe, with 48-hour accumulation ranging from .50-.90” across France and Germany. The EU and GFS models remain in agreement that soaking rain moves into the…
AgResource Corn Comment and Analysis
** CBOT Corn Ends Lower on Lack of Follow-Through Buying in Energy: CBOT corn futures ended the day & week lower. Fresh input was lacking, and huge new demand is needed to alter the trend of ever-rising US stocks in the near term. WTI crude ended higher, but gasoline/ethanol futures ended $.01-.02/gal lower. Futures-based US…