AgResource Hog Comment and Analysis
Hog Futures Close Out the Week Strong: CME hog futures slipped to new weekly lows but rebounded into the close. April was the exception, with fund liquidation continuing even as the cash hog index continued to advance. The index gained $.33 on Friday to $83.54. AgResource estimates the index a nickel higher for Monday. Hog…
AgResource Soybean Comment and Analysis
Soybeans Correct Ahead of the Weekend: Soybeans turned down at the end of the week as fund short covering demand eased and producer selling increased ahead of the weekend. May soybeans gave back the last 2 days’ gains and closed back below the 50-day moving average. The Commitment of Traders report showed that for the…
AgResource Corn Comment and Analysis
Corn Ends Slightly Weaker; US Seeding Intentions/Weather Dominate Price Discovery into Summer: Chart-based resistance is intact at $4.42-4.46 basis May CBOT, and the market is unlikely to break out of its recent range until seeding intentions and Brazilian weather in April is known. Rainfall in Mato Grosso next week is helpful, but pollination stretches from…