AgResource Hog Comment and Analysis
Hogs Mark New Lows, Close Firm: CME hog futures were mostly firm to start the week. Support came from short covering following last week’s sharp decline, along with early-week strength in the cash index. The CME cash hog index started the week $.36 higher at $45.23. The Prior Day Slaughter Report shows the index holding…
AgResource Wheat Comment and Analysis
CBOT Wheat Recovers from Contract Lows; World Market Inches Lower: CBOT wheat futures rallied 9-11 cents on limited fresh input. The market was oversold, funds on Friday evening were short an estimated 60,000 contracts in Chicago. Month/quarter ending book squaring occurred on Monday. US spring wheat ratings continue to erode amid persistent dryness across the…
AgResource Corn Comment and Analysis
CBOT Corn Extends Jumps on End of Month/Quarter Short Covering: CBOT corn futures ended sharply higher as the speculative community opted to bank profits ahead of month’s end as uncertain feed/resid and acreage data will be published on Tuesday. NASS numbers will jostle US supply and demand modestly, but oversupply remains the global corn market’s…