AgResource Hog Comment and Analysis
Hogs End Sharply Mixed on Nearby Strength: June hogs rallied on Thursday with support coming from oversold conditions and the hefty cash index premium. The CME cash hog index is $6.50 over June futures, which sparked short covering. The US Monthly Livestock Slaughter/Cold Storage reports offered both expected and unexpected results. The slaughter report confirmed…
AgResource Wheat Comment and Analysis
US/EU Wheat Futures End Firm; June EU/Black Sea Weather Awaited: CBOT wheat futures ended strong but well off session highs. Price direction the in US and elsewhere hinges totally on EU/Black Sea weather over the next 30 days. The EU & GFS forecasts are a tad wetter in Eastern Europe, while regionally soaking rain impacts…
AgResource Corn Comment and Analysis
CBOT Corn Bounce Struggles; Central US Weather Threat is Absent: CBOT corn futures ended weaker again amid a downturn in spot ethanol prices and the lack of major global weather issues. Midwest drought is highly unlikely this summer, while additional needed rain will fall across Eastern Europe and key areas of Northern Ukraine. Argentina’s harvest…