AgResource Wheat Comment and Analysis
Wheat Scores Newer Low on Large Deliveries/Weak Interior Basis; S Hemisphere Weather Issues Persist: CBOT wheat ended lower but well off session lows and nearly scored a rather important reversal. Deliveries of 1,113 contracts of SRW were posted on first notice day, which follows a further weakening of spot bids across the Midwest. Spot SRW…
AgResource Hog Comment and Analysis
CME Hog Futures Relax on Profit Taking: CME hog futures were lower on Thursday, with October hogs stalling above $84, and December slowed after testing the 50 and 100-day moving averages. The weekly FAS Export Sales report showed that pork exports last week jumped to an 8-week high of 69 Mil Lbs. Pork exports were…
Central US Weather Pattern Discussion
The Central US harvest will be swift and begin a full 1-2 weeks earlier than normal. The risk of frost/freeze is near zero, and so US weather concerns mid-September onward shift from row crops to moisture available ahead of and during winter wheat seeding. Drought has been eliminated or nearly eliminated across much of the…