AgResource Hog Comment and Analysis
Hogs Rally On New Fund Buying: CME hog futures rallied to end the week on technical buying. October hogs pushed above the 50-day moving average, while February hogs were above the 50- and 100-day moving averages at the close. Hog slaughter for the week was estimated at 2.534 Mil head, just barely short of last…
AgResource Wheat Comment and Analysis
World Wheat Abundance Pressures CBOT/EU Price: US wheat futures ended another 1-5 cents lower with Sep CBOT losing $.35/Bu on the week. Rising production potential has hit the US wheat market particularly hard amid surging Gulf premiums and SRW’s steep premium to other wheat & grain markets. The graphic shows that a Dec CBOT wheat-corn…
AgResource Corn Comment and Analysis
Corn Hits New Contract Low; Elevated Producer Selling Next Three Weeks: CBOT corn futures ended weaker on Friday. Breaking news is absent, but NOAA’s QPF this evening features weekend precip of .50-1.25” across NE IA. Yet, increasingly the market is focused on the arduous chore ahead of stimulating demand growth in era of Covid-19. New…