AgResource Hog Comment and Analysis
Hog Futures Recover Losses as Cash Index Gains: Hog futures were higher on Wednesday with October pacing the advance. The break below $52 uncovered solid end user support with the cash index still higher. The CME cash hog index gained $.34 to $54.81. The prior day slaughter report showed another $.27 higher for Thursday. The…
AgResource Wheat Comment and Analysis
Wheat Ends Firm on Hope of Chinese Demand; US SRW Overvalued: CBOT wheat futures ended slightly higher. The bulls had hoped for FAS to confirm that China secured a few cargoes of HRW wheat. No announcement was made, and so the next two weekly sales report will be read with interest. Otherwise, there will be…
AgResource Corn Comment and Analysis
CBOT Corn Ends Lower; US Ethanol Grind Unlikely to Improve: CBOT corn futures ended slightly lower. Extended range forecasts need to fully materialize to maximize yield potential but this week’s EIA report is viewed as disappointing. Once the US crop size is better known, focus shifts to consumption. ARC maintains that the USDA’s new crop…