AgResource Hog Comment and Analysis
CME Hogs End Mixed in Quiet Trade: Hog futures were lightly mixed but little changed at the close of business on Thursday. Nearby February was a little weaker, and the rest of the market was on either side, unchanged. The cash hog index gained $.49 to $67.34, and AgResource estimates a $.52 increase for Friday.…
New Crop US Wheat Supply & Demand by Class
ARC’s updated wheat supply & demand by class forecasts are above. Production data is revised to reflect NASS winter wheat seedings data, while minor revisions were made to 23/24 HRW carryin. Trend yields and average abandonment are assumed, though ARC’s SRW balance sheet does feature lower 24/25 beginning stocks amid larger projected exports in 23/24.…
AgResource Soybean Comment and Analysis
Soybeans Set New Low and Close Higher: Soybean futures were under pressure after the morning open from a burst of fund selling, but the market turned higher as the selling subsided and soybeans finished 3-8 cents higher. The soy product markets were mixed with soybean meal closing higher on fund buying, while soybean oil futures…