AgResource Hog Comment and Analysis
Hogs End Mixed in Limited Trading Interest: CME hog futures were mixed at midweek. Bear spreading pressured August hogs lower which left October and December just above unchanged at the close. The Aug/Oct spread fell to a new low of -$1, while Aug/Dec traded at -$3.30. the chart shows that it’s the 1st time August…
AgResource Wheat Comment and Analysis
US Wheat Futures Soar on Chart Pattern, Falling Russian Production Estimates: US wheat futures rallied sharply with Sep CBOT ending $.22/Bu higher. Russian winter wheat yields in key Oblasts are well below recent years and below already low expectations. Argentine crop estimates are being lowered as persistent dryness in Central Argentina trims seedings. US wheat…
AgResource Corn Comment and Analysis
CBOT Corn Struggles Despite Surging Wheat; Weekly Ethanol Data Leans Slightly Negative: CBOT corn futures ended 1-3 cents higher. Strength in US and world wheat markets is noted, but there will be little change to massive feedgrain export competition into early 2021. Nearby US weather forecasts offer widespread rainfall worth .25-1.50” the Midwest through the…