AgResource Weekly Newsletter, Jun 28
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AgResource Wheat Comment and Analysis
Wheat Recovers on News of Russian Exporter Defaults; Egypt Tender Results Awaited: Wheat futures worldwide ended higher on Tuesday following news of Russian exporter defaults worth upward of 600,000 MTs. Additionally, Russia is unlikely to sell sizable tonnages to Egypt amid the Russian exporter’s inability to hedge future currency/tax/insurance risk. The attached graphic shows the…
AgResource Hog Comment and Analysis
Hogs Ease Ahead of USDA Report: Slower and lower trade unfold in the CME hog markets on Tuesday. All CME futures contracts are now below the cash index, with futures traders pricing in a cash market top in the coming weeks. World hog price trends have generally been higher over the last month. Last week’s…
AgResource Corn Comment and Analysis
CBOT Corn Adds Premium; Central US Drought Expansion Probable Next Two Weeks: CBOT corn followed wheat higher, while steady interior basis levels lent support. Recall a year ago elevators began to roll from July to Sep much earlier in the summer. This year cash bids of $8.00+ imply some measure of extreme near-term supply tightness.…
