AgResource Wheat Comment and Analysis
Wheat Falls Sharply on Canadian Seedings Data, Talk of Larger Crop Potential in Ukraine: Wheat futures in the US and Europe ended weak again, with Sep CBOT Paris futures falling below their respective 20-day moving averages. There’s talk that Ukrainian production may reach 20+ MMTs, vs. USDA’s currently estimated 17.5. Chart patterns appear less supportive…
AgResource Hog Comment and Analysis
Hog Futures Ease Ahead of Inventory Report: CME hog futures were mostly lower on Thursday on reduced demand ahead of the June Hogs and Pigs Report. World cash hog price trends have generally been higher over the last 30 days. The US market has led a rally and gained more than $10/cwt. The Canadian market…
AgResource Corn Comment and Analysis
Corn Extends Correction as Models Add Substantial Rain to IL/IN Nearby: Corn futures ended sharply lower for a second day as 5- and 7-day forecasts evolved to include rainfall upward of 2-3” across the driest areas of the eastern Midwest. Such rain will begin to ease drought conditions – and in a rather timely manner…