AgResource Hog Comment and Analysis
Hog Futures Continue Lower on Weak Pork: CME hog futures remained under pressure from sliding pork values. July hogs led the decline to narrow the spread to the cash index. The CME cash hog index was down $.59 at $48.38, and the Prior Day Slaughter report shows $.28 lower for Wednesday. The pork cutout remained…
AgResource Wheat Comment and Analysis
US Wheat Ends Sharply Lower on Harvest; Needed Pattern Shift Across Black Sea Spring Wheat Belt: US and European wheat futures ended sharply. In the US, long wheat-short corn spreads were unwound following NASS’s unexpected decline in US corn crop ratings. Milling wheat futures in Paris fell to a new 3-month low amid negative seasonal…
AgResource Corn Comment and Analysis
CBOT Corn Ends Firm Following Crop Downgrade, Weekly Ethanol Data Wednesday: CBOT corn futures ended steady. A bounce was expected following the plunge in crop conditions across the Plains on Monday. Yet, improving Central US rainfall beginning Thursday will act as a heavy weight on rallies. ARC notes that the EU & GFS models agree…