AgResource Hog Comment and Analysis
Hog Futures Find Demand and Close Higher: Hog futures were higher at Thursday’s close, supported by short covering from deeply oversold conditions and Wednesday’s strong rally in the pork cutout value. The cash hog index was down $.11 at $70.83 and is projected $.13 higher for Friday. This puts the index 2 cents higher for…
AgResource Analysis of USDA’s Dec Report
The world exporter wheat balance sheet will be historically tight in 21/22. Combined exporter production was raised 5.9 MMTs as crop sizes were lifted in Russia, Australia, and Canada. However, global trade and total consumption were raised 1.9 and 1.5 MMTs, respectively. USDA pegged exporter stocks/use at 12.6%, up slightly from November but still the…
AgResource Analysis of the December USDA Report
Changes to the global soy balance sheet were minimal, but world production was lowered by 2.23 MMTs. Most of the decline was due to a smaller Chinese soy crop which was reduced by 3.6 MMTs. Global soybean beginning stocks fractionally lowered, while imports were unchanged and exports were slightly increased. End stock were reduced by…