Agriculture

December lean hogs tried to stage a rally but ended up finishing the day closer to unchanged. We continue to believe there is a longer-term upside opportunity.
Corn Futures rebounding early this morning after weekly crop progress report showed harvest just 30% completed, 3-4% behind already lagging expectations
Chicago wheat futures staged a huge rally last week, much of that on the back of technical short covering. Friday’s Commitment of Traders report showed funds bought 8,573 contracts, trimming their net short position to 10,564 contracts.
Cocoa has been a macro trade of late. The December contract is range bound in this recent consolidation.
The Soybean market tried to run higher yesterday but fizzled out into the close. The lack of bullish headlines and harvest has kept a lid on things through the week.
Oliver Sloup breaks down the busy day in grain futures markets. Corn futures traded down -14 cents and Soybean futures traded down -1.25 cents after the WASDE report.
Chicago wheat bucked the trend and traded higher during yesterday’s session as fundamentalists point to hopes of improving demand.
Every minute of every trading day, trading signals are assessed on a portfolio of 30 futures markets and tracked in a very high level of transparency and accountability.
Corn futures saw another round of profit-taking yesterday, spilling into the overnight and early morning session. In yesterday’s report, we wrote: “We remain optimistic on prices but continue to feel a pullback/cleanse would be healthy for the market.
Every minute of every trading day, trading signals are assessed on a portfolio of 30 futures markets and tracked in a very high level of transparency and accountability.