AgResource Hog Comment and Analysis
Hogs Set Contract Highs Then Turn Lower: CME hog futures briefly pushed to new contract highs and then turned lower on profit-taking. April hogs fell $4.05, while June hogs again ran into resistance above $121. The cash index jumped $2.93 on Wednesday to $98.16, and the slaughter report indicates a nickel higher for Thursday. Hog…
AgResource Soybean Comment and Analysis
Soybeans Extend Gains on Follow Thru Geopolitical Buying: Soybeans rallied into contract highs on Wednesday on geopolitical worries and technical buying. Soybean meal paced the midweek rally with March meal testing last week’s high and marking a new contract high close. US and world cash soybean meal markets remain strong. Brazilian fob meal premiums have…
AgResource Corn Comment and Analysis
CBOT Corn Follows Wheat Higher on Ukraine Supply Risk; World Market Follows: CBOT corn futures found new rally highs amid rapidly rising concern over the pace of future Ukrainian corn shipments. The worst case scenario, in which Ukrainian shipments are blocked entirely, strips another 14 MMTs (590 Mil Bu) from the world marketplace. But even…