AgResource Wheat Comment and Analysis
CBOT Wheat Unwilling to Break; EU Market Recovers at Key Support: Wheat futures ended mixed on Thursday, with spot CBOT & Paris milling contract higher and KC/MGE lower. March CBOT and Paris contracts hold meaningful premiums to May. Russian wheat stays cheap/available throughout spring, but ARC’s research maintains that downside risk is limited until much…
AgResource Hog Comment and Analysis
Hog Futures Gain on Rising Cash Prices: CME hog futures pushed to new rally highs on Thursday. April hogs marked the 6th consecutive day higher and briefly traded near $89. June hogs stopped just short of $100, while August set a new contract high for the 6th straight day. The cash hog index gained $1.17…
AgResource Corn Comment and Analysis
Spot CBOT Corn Test Long Term Support at $4.00-4.05; Momentum Still Negative: Global corn markets ended steady to lower on Thursday as there’s still no pushback against speculative selling. The market is deeply oversold, with RSI now the lowest since spring 2019. Managed funds are estimated to be net short 340,000 contracts, a record by…