AgResource Hog Comment and Analysis
Hogs Rally on Cash Market Strength: CME hog futures gapped higher and marked strong gains at the end of the Tuesday’s trading. October hogs led the rally amid continued strength in both the pork cutout value and the CME cash index. The cash index gained $1.71 on Tuesday to $71.29. Based on Monday’s slaughter data…
AgResource Wheat Comment and Analysis
CBOT Wheat Recovers; GASC Purchase Forces World Cash Market Higher: US and world wheat futures ended moderately higher following a sizable Egyptian purchase with needed rain lacking for Southern Russia into Oct 5th. The attached graphic shows that current moisture levels in Southern Russia – a major winter wheat area – are insufficient. Ongoing dryness…
AgResource Corn Comment and Analysis
CBOT Corn Unable to Rally Ahead of Harvest; Ethanol Data on Wednesday Unlikely to Inspire: CBOT corn futures ended flat. Exporters sold another 120,000 MTs of China with 320,000 MTs sold to unknown destinations. Export sales reports into early October will show robust demand. However, ARC calculates that China needs to buy 380-400,000 MTs per…