Hogs Make New Highs and then Close Lower: Follow through technical demand had CME hog futures higher at the open, while profit-taking had the market lower at the close. Nevertheless, October marked the 2nd consecutive close above the 50-day moving average. The CME cash hog index was off $1.17 to start the week, and the…
New Speculative Advice: 1/ Exit 2 long KC September wheat at the market for a net gain of around 75 cents/Bu. ARC wanted to wait until after the Stats Canada report before taking profits. 1st notice day is Tuesday AgResource Farm Marketing Advice for Monday: 1/ No new advice. AgResource Midday Comment/Analysis Midday CBT futures are…
Highlight: Warmer SSTA last week, but cooler reversal should return. Discussion: Last week’s Nino SSTA observations are misleading. Generally, a moderate warm-up occurred lead by the key Nino34 region which rocketed out of the La Nina threshold warming to -0.3C which is neutral phase (Fig. 1). Other Nino SSTA regions also warmed. Meanwhile, a strengthening…
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