Hogs Rally on Bullish USDA Data: CME hog futures gapped sharply higher at the open and finished with strong gains. October hogs were back above $90, narrowing the spread to the cash index to just $1.30. December and February both finished $4.75 higher, trading through major moving averages. The CME cash hog index was down…
Highlight: Neutral ENSO but La Nina lurking. Fig. 1: The 12-week Nino SSTA observations. Discussion: The Nino SSTA observations remains in neutral phase and generally close to La Nina thresholds (Fig. 1). The upper ocean heat analysis reveals the coolest ocean anomalies are in the Nino34 region and westward (Fig. 2). Implied is an evolving…
Sharply higher corn with wheat/soy values following are the CBT market trend. Tightening cash markets (limited farmer selling) along with rumors that China may be looking to make large purchases of US soybeans/corn has lifted values. December corn is testing its 50-day moving average at $5.42 while the 100 day moving average rests at $5.52.…
Chart of the day: Prevailing upper air pattern next 15 days. Discussion: If you’re looking for a cold winter the way not to do that is find what is forecast the next 15 days: Gulf of Alaska longwave trough. A compensating mild weather producing upper ridge settles over middle North America in this pattern. The…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
