AgResource Hog Comment and Analysis
Hogs Bounce From 5-Week Low: Follow through selling had hog futures under pressure at the open, but the drop to 5-week lows along with widening spreads to the cash index had the market mostly higher at the close. The exception was June, which was slightly weaker while the rest of the market gained $1+. T…
AgResource Wheat Comment and Analysis
Wheat Extends Recovery; European Rainfall Forecast to Expand West: Fund short covering continued to lift US wheat values on Friday. French milling wheat also participated in the rally, ending €1.50/MT ($.05/Bu) higher. Other fundamental news is lacking. ARC maintains that new sales only be made above $5.30 basis Sep CBOT, but coming improvement in European…
AgResource Corn Comment and Analysis
CBOT Corn Ends Weak as US Export Demand Retreats: Corn’s rally was short-lived. End users/speculators were unwilling to chase Thursday’s advance amid a lack of needed bullish supply input. Weather model guidance maintains that next week’s high-pressure Ridging will be transitory in nature. The return of precip to the N Plains and much of the…