AgResource Hog Comment and Analysis
Hogs Correct Recent Gains: CME hog futures were lower to start the week as the market consolidated last week’s rally. May hogs held above $79, but all summer contracts were down $2 or more from Friday’s close. The CME’s lean hog index gained $.20 to $71.49, and the slaughter report indicates a $.60 gain for…
AgResource Wheat Comment and Analysis
CBOT Wheat Trade Briefly Below $6.00; Crop Rating Improves Only Slightly; Russian Interior Market Stabilizes: Managed funds expanded their already sizable net short position in Chicago by 6,500 contracts amid hope for additional rain across the US Plains. Latest model guidance does features helpful totals in NE and parts of KS, but less certain is…
AgResource Corn Comment and Analysis
CBOT Corn Ends Mixed; May-July Spread Hits $.57; Timely Planting Dates Probable: Old crop futures ended higher. New crop ended slightly lower. A lack of international guidance due to May Day’s holiday is noted, and breaking news was otherwise absent. The US corn crop on Sunday was 26% planted, right at average, and progress should…