AgResource Corn Comment and Analysis
Corn Extends Recovery; Chart-Based Resistance Lies Just Above Market: CBT corn futures were towed higher by a surging world wheat market. The potential for stagnant/lasting dryness in Argentina & Southern Brazil lingers in the background. Additionally, ARC highlights that interior basis is firm and much stronger than normal early December. Dec futures premium to March…
AgResource Hog Comment and Analysis
CME Hogs Recover on Sizable Export Sales; Omicron Fears Ease: Hogs ended sharply higher amid a host of supportive fundamental input. Feb CME has found new buying interest at chart-based support ($81). The CME’s cash index is up slightly at $70.27, vs. $70.04 previously, with carcass, butt, ribs, ham, and bellies rising $.01-.11/Lb on Thursday.…
AgResource Wheat Comment and Analysis
World Wheat Futures Soar on Continued Importer Demand: US wheat futures end 22-28 cents higher with similar gains noted in European & Black Sea markets. Tunisia bought modest tonnages of soft wheat and durum, but most important is Saudi Arabia’s surprise tender for upward of 535,000 MTs of optional origin wheat. Saudi’s purchase will be…