AgResource Hog Comment and Analysis
CME Hog Rally Goes On Unabated: Strengthening cash prices and technical buying lifted hog futures $2 on Thursday. This puts futures at new contract highs. The CME cash index was $1.50 higher at $93.34 and projected $.90 higher for Friday. The index is up a hefty $6.51/cwt for the week. Barrow and gilt carcass weights…
AgResource Wheat Comment and Analysis
US Wheat Futures Soar on Short Covering; Algerian Demand Supports EU Market: Global wheat futures ended steady to higher, with Egypt/Algeria securing a combined 900,000 MTs of Romanian/optional origin wheat today. There was no specific catalyst for the US rally, as export demand remains rather weak. Yet, ARC estimates that managed funds in Chicago were…
AgResource Corn Comment and Analysis
CBOT Corn Ends Slightly Higher Following Wheat; Input is Bullish: CBOT corn futures ended firm on Thursday amid solid export sales, erosion in Argentine crop health and drier midday forecasts for Argentina/Southern Brazil. And a comment from US President Biden that Russia could invade Ukraine at any time! It’s premature to say much about safrinha…