AgResource Hog Comment and Analysis
Hog Futures Extend Weekly Gains on Friday: CME hog futures consolidated gains and quietly traded higher to end the week. October hogs pushed above $78 and were above the cash index at the close, while December hogs were just under weekly highs. The cash hog index gained $.12 to $77.62, and the calculation for Monday…
AgResource Analysis of USDA’s Oct Reports
The wheat market must also contend with the arrival of the third largest Australian crop on record. This supply will be available to world marketplace in December. Old crop exporter supply and demand is also not overly bullish when taken at face value. 2020 Ukrainian production was lowered 1.5 MMTs. Argentina’s crop was lowered 0.5…
AgResource Analysis of USDA’s Oct Reports
The USDA’s US wheat balance sheet updates were even more lacking in surprises. NASS lowered 2020 US wheat production and raised feed/residual use, both due to NASS Sep stocks and production data. No other changes were made and lofty Gulf fob prices will limit any improvement in the pace of annual export demand nearby. ARC…