AgResource Hog Comment and Analysis
Hog Futures Close Mixed at the Start the Week: Mixed and quiet trade unfolded through Monday, leaving June and July futures slightly weaker while Dec-Apr contracts gained $1-2.00. The CME lean hog index was down $.17 at $68.70, while the weekend slaughter data indicates $1.10 lower for Tuesday. The Fri/Saturday average negotiated price was down…
AgResource Wheat Comment and Analysis
CBOT Wheat Ends Weaker; Ongoing Dryness in Europe a Concern: US wheat futures ended slightly lower. The EU/GFS models are in broad agreement that dryness will continue across much of Europe and at times, will include SE Russia. ARC’s primary concern is the complete lack of precip forecast in the UK, France, Germany and Poland…
AgResource Corn Comment and Analysis
CBOT Corn Tries to Follow Energy Market; Central US Weather Threat Absent: CBOT corn futures ended slightly higher as spot futures-based ethanol margins continue to crawl into the black. Spot ethanol settled at $1.15/Gal vs. late March’s low of $.80. The industry is beginning to awaken as gasoline rises. Yet, ARC’s shows that a major…