AgResource Weekly Newsletter, Apr 23: Accuracy of USDA’s May WASDE & Chinese Feed Import Discussion
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Soybeans Extend Weekly Gains on Firm Demand: Soybean futures continued higher on Tuesday and gained 5-6 cents. Soy product markets were also higher, with July meal trading at the highest price in a month. IA State University’s latest estimates for biodiesel plant profitability shows an estimated margin of $.53/Gal, up from a $.53 loss a…
Hog Futures Advance Towards Contract Highs: CME hog futures marked another strong day on Tuesday. Summer hog futures were all more than $2 higher for the day and priced from $107-110, with July being the highest value at just under $110. Deferred futures also marked good gains, with December closing within $1 of the early…
EU Wheat Corrects on Broadly Stagnant Russian Cash Market; Short Covering Continues in US: Speculative short covering was extended in the US as Black Sea forecasts favor near complete dryness in E Ukraine and S Russia into May 3, with no indication of a material pattern change in the 11-15 day period. A Russian crop…
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