AgResource Hog Comment and Analysis
Hogs Regain Ground as Cash Index Marches Higher: CME hog futures turned higher on Wednesday amid continued strength in the cash index. There are 2 weeks of trading left in October, which will now be closely linked to the cash index. December hogs are waiting for a cash top but are already $12 under the…
Analysis of NASS’s Sep Stocks Report
Finally, NASS’s production & stocks data will trigger important changes to US wheat supply & demand by class. Total 2020 wheat production was only lowered 12 Mil Bu, but HRW production was reduced 36 Mil Bu while SRW production was lowered 11 Mil. Higher white wheat and durum crop sizes partially offset this. Assuming larger…
Analysis of NASS’s Sep Stocks Report
ARC’s updated balance US wheat balance sheet is attached. 2020 total US wheat supply will be lowered slightly. Note that in addition to reduced production, NASS lowered official 2020 beginning stocks 16 Mil Bu to 1,028 Mil. Annual feed use will be raised 35 Mil Bu to 125 Mil. 2020 US wheat end stocks are…