AgResource Weekly Newsletter, Feb 8
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Hogs Surge to Contract Highs: Fund buying drove CME hog futures sharply higher today. February hogs closed just under contract highs that were traded last June, while the rest of the market made new highs. February hogs paced Tuesday’s rally, supported by firming cash, while June hogs stopped just short of $113. The cash hog…
US Wheat Futures Extend Recovery on Plunge in Canadian Stocks: Spot US wheat futures rallied 11-19 cents, led by Minneapolis, as Canadian wheat stocks on Dec 31 totaled just 15.5 MMTs. This was 1.7 MMTs below the trade’s average guess and an incredible 9.5 MMTs below last year. Additionally, droughts worsen across the US Plains…
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