AgResource Corn Comment and Analysis
CBOT Corn Ends Weak on Warm Midwest Forecast; Market to Be Rangebound Awaiting Late May US Climate Pattern: CBOT corn futures ended weak for a second day as the market focuses more on next week’s weather than current conditions. Global feed prices can’t break until record yield potential is confirmed in mid-summer. The duration of…
AgResource Wheat Comment and Analysis
US Wheat Futures Extend Correction; Funds Estimated to be Net Short Chicago: US wheat futures ended weak as the major forecasting models continue to feature rainfall of 1-2” across swaths of OK, KS and NE over the next 72 hours. Crop health will be stabilized, but as mentioned previously yield improvement is unlikely give the…
AgResource Hog Comment and Analysis
CME Hog Futures Extend Losses: Fund liquidation and technical selling kept CME hog futures under pressure in Tuesday’s trading. July hogs again paced the decline, but all three summer contracts were below $105 during the day. The CME cash hog index was down $.18 at $101.59, and the slaughter report indicates another $.45 lower for…