Hogs Start the Week with Solid Gains: After a weaker start, hog futures found support and closed higher. Pork cutout futures were also higher, with summer months reaching new contract highs and closing above $102. The cash hog index advanced $.51 on Monday to $84.57, and we estimate a $.75 increase for Tuesday. From the…
Soybeans Give Back Most of the Overnight Rally: CBT soybean futures were 3-5 cents higher at the close, well under the new contract highs that were scored overnight. The USDA will release its March WASDE report on Tuesday with the Brazilian USDA (CONAB) putting out their crop report on Thursday. Traders used the overnight rally…
Brazilian Ethanol Market Extends Rally; US Export Potential Brightens Ahead of N Hemisphere Holiday Seasonal: Brazil’s cash ethanol market has risen sharply since late January. This is mostly a function of rising sugar prices – and expected trimming of Brazilian sugar production. Yet, record corn prices (in reais) is not aiding industry, and ARC’s work…
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