AgResource Hog Comment and Analysis
Hogs Futures Higher While Cash Index Turns Up: CME hog futures closed firm on Thursday with August hogs marking the best gain for the day. Trading in August ends next week, and the contract is a few dollars below the cash index. The cash index gained a dime on Thursday to $52.92 but is estimated…
AgResource Wheat Comment and Analysis
Wheat Ends Lower on Rising Exporter Production: US wheat futures continue to reel from rising Russian, Australian and Canadian crop estimates. Even assuming another 2-3 MMTs cut to EU production, major exporter wheat production in the Aug or Sep WASDEs is likely to be raised 3-4 MMTs. Amid uncertain demand, the wheat market quickly has…
AgResource Corn Comment and Analysis
CBOT Corn Futures End Steady; Market Awaits IA Precip Accumulations: CBOT corn futures ended slightly higher amid uncertainty surrounding 5-day Iowa precip accumulations. Iowa has become the epicenter of Corn Belt drought but potential rainfall there into early next week could provide some measure of relief. The GFS model maintains dryness in IA. The afternoon…