AgResource Hog Comment and Analysis
Hog Futures Advance at Midweek: After relaxing on Tuesday, hog futures ended with modest gains on Wednesday. April initially led a midweek rally, but gains were pared from more than $1 at midday, to just $.10 at the close. July and August held above $100, with August setting a contract high for the 10th day.…
AgResource Wheat Comment and Analysis
Wheat Markets Correct; EU Cash Values Chase Russia Lower: Wheat markets ended week worldwide on Tuesday. March’s expiration lies just ahead, with interior premiums negative across the US Southern Plains and W Europe. Russian fob wheat is still quoted at $209-211/MT for nearby delivery – below all others – though price action there will be…
AgResource Corn Comment and Analysis
CBOT Corn Rallies for Third Day; Fund Short Still Sizable: CBOT corn futures continue to recover as funds trim short positions ahead of key Brazilian weather. So far, the rally has been based solely on short covering – market open interest is down 100,000 contracts from last Friday. Charts are crawling out of oversold technical…