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Feel like you’re having a rotten day? You probably aren’t having as bad a day as these folks.
There is certainly a chance that recent pork loin and rib weakness will set up the market for an exaggerated September surge, but the late-2016 hog and pork outlook does not look encouraging.
Our weighted Crop Condition Index for corn rose by 2.25 points from last week and soybeans rose by 1.70 points.
Global potash fundamentals continue to pressure vitamin K as phosphate remains stubbornly overpriced.
Crude oil production factors are weighing on heating oil futures which will pressure farm diesel near-term if the momentum remains downward. Propane is 11 cents below year-ago and may still have another few cents to give before posting the summertime low.
The story of the Belorussian Potash Company continues to unfold and as major global potash importers come to the table, the Former Soviet Union K producers appear to be more than happy to undercut global prices again this year.
Distillate supplies are benefiting from increased refinery capacity and utilization, but, as with crude oil, declines in U.S. distillate supplies are keeping a hard floor under heating oil futures, and farm diesel. The first of July is upon us and we expect to book propane during that month.
This bale wrapper sold on a PurpleWave.com auction June 29
Our weighted Crop Condition Index shows the corn crop declined by 1.72 points and soybeans dropped 2.35 points from last week.
The Quarterly Hogs & Pigs Report, which showed all categories above expectations, puts more focus on demand.
LimelightPlayerUtil.initEmbed(‘limelight_player_796706'); Corn is 1 to 3 cents higher and soybeans are around 30 cents higher. But wheat futures have softened. Cattle are higher and hogs are weaker.
While the number of cattle placed on feed was up sharply from year-ago, May 2015 placements were light, so it makes this year’s number appear artificially big.
Todd “Bubba” Horwitz says one thing every farmer, producer, speculator and trader should be prepared for is that history always repeats.
According to pre-report expectations Doane looks for All Hogs & Pigs at 101%, Kept for Breeding at 100% and Kept for Marketing at 101% of year-ago levels.
Rural bank CEO’s have tightened farm loan terms due...
The Kansas wheat harvest was 25% complete as of Sunday, reports NASS.
Distillate supplies rebounded this week according to EIA which longer-term should be price negative on farm diesel. Also working in favor of lower diesel prices is WTI crude oil’s rejection of the $50 level.
Todd “Bubba” Horwitz reminds that bull markets always end... usually with a thud..
Consumers’ willingness-to-pay (WTP) for all meat food groups declined in June compared to May.
Our weighted Crop Condition Index shows the condition of the SRW and HRW crops improved marginally from last week.