There are some discrepancies and unusual relations in the wheat market as Chicago remains unnaturally firm compared with Kansas City and Minneapolis. Believe it or not, we’ll be wrapping up this year’s harvest in a few weeks and then we’ll be dealing with seeding a few months from now. New crop Chicago is showing a 27 cents premium …

Lets put last weeks crop report aside for the moment. Since the USDA offered a mea culpa an hour after last Friday’s release of acreage estimates, saying they were going to resurvey a 14 state area for a more accurate and valid count of corn and bean acres, we should dismiss it as well. In my opinion the focus should …

I don’t know what was more surprising, the 4.5 million cut in soybean plantings or the 4.7 million acre increase in corn seedings ? Take your pick but for me its corn by a nose. Remember it was only two weeks ago that the USDA was much more aggressive in altering US corn production, and took an ax to both …

                                Regardless  of whether you believe the acreage figures it is what we have to trade. Until the August crop reports for corn and beans with production estimates  based on field surveys which the USDA has allegedly tweaked in prior years to adjust for questionable acreage estimates , this is the figure we’ll trade. The USDA will issue a fresh …

                                The USDA reports out at 11 Chicago time tomorrow are taking center stage yet, the trade is unsure about the accuracy of the figures as planting has been a moving target all month!  Taking inventory with Stocks might be a little easier and the trade might take those figures as more believable.  The average guesses for tomorrow’s reports are …

   The August Lean Hogs contract continued its consolidation within Monday’s trading range. The high was 77.00 and the low 74.525. It settled at 75.475. A failure from settlement could see the 74.25 support level revisited. This is also the Tuesday low. A failure from here could see price approach the 72.80 support level.  If settlement holds then a test …

A warmer dryer outlook in the next few weeks has given some reasons for profit taking in corn. Its also month and quarter end Friday ahead of a important crop report Friday at 11 am. Lots of moving parts here with First notice day for the July contract on Friday as well. Yield loss looks sizable for corn with some …

The August Lean Hogs contract consolidated within Monday’s trading range. It settled right at the 76.175 resistance level.  A failure from settlement could see the 74.25 support level revisited. This is also the Tuesday low. A failure from here could see price approach the 72.80 support level.  If settlement holds then a test of resistance at 77.80 is possible. Resistance …

The soy has alot to deal with. Looking at the macro. The acreage is a question. However a 2-3 million acre loss does little to change the global balance sheet. The beans are bearish. The Chinese remain slow to the table. Exports remain overstated. There are current sales that will most likely get rolled forward. With or without a trade …

There are many concerns given the late plantings. The corn has dialed much of the weather issues in for the moment. There is still potentially more upside. However perhaps it is time to retrace and find support. Why? Assume 6-7 million acres lost. Assume a less than trend yield. This could give us a 1.1-1.3 billion bu carry. Now consider …