Corn eases on harvest pressure, COVID-19 concerns

The corn rally may have peaked on Sep. 18 after going six consecutive weeks of higher week-over-week closes. Fears over coronavirus resurgence in Europe, surpassing 200,000 deaths here in the U.S., and increased cases in the Midwest caused a sharp drop in the equities [...]

Hog population stable YOY heading into fall

USDA’s quarterly Hogs & Pigs report put the Sep. 1 population at 79.1 million head, up less than 1 percent from Sep. 1, 2019 and down almost 1 percent from the Jun. 1, 2020 number. Usually, we see a modest increase in the hog [...]

Great pumpkin harvest expected for 2020

Families looking to hit the pumpkin patch ahead of Halloween and through the fall are in for a treat as 2020 look to be a bumper pumpkin crop. A good crop will be needed as strong demand is expected this fall as families look [...]

24.2 MMT of 2020/21 soybean exports already sold

As of Aug. 27, the U.S. had pre-sold 24.2 MMT of new-crop soybeans, beating the previous sales record set in 2013/14 of 23.9 MMT of 2014/15 soybeans. USDA is currently forecasting 2020/21 U.S. soybean exports at 57.8 MMT (2.125 billion bushels), a return to [...]

Weak dollar helping boost commodity prices

This past week’s Fed meeting and comments from Chairman Powell hinted at continued low-interest rates and a dovish stance to help the economy regain its footing in the current COVID-19 environment. Historically low-interest rates have already made an impact on the economy via a [...]

Halloween preppers thrill to early candy offerings

This year, Halloween falls on a Saturday, which usually engenders a comfy feeling for the confectionery industry. Saturday is clearly the best day for partying, tot-style and otherwise, and sales of candy and other fun stuff reflect higher participation. However, with efforts to contain [...]

Crude oil continues to consolidate & move higher

As U.S. supplies of crude oil fell for the third straight week on continued weak imports and near-record export shipments out of the Gulf, crude oil is seeing its highest prices since the March sell-off and its historic price inversion into negative territory. Some 2.2 [...]

Technicals signal cocoa futures are overbought

Commodity fund traders had accumulated a net short position in July amid poor Q2 grind results and the potential influence of COVID-19. Since bottoming out in early July, specs have covered these new shorts, and the market has recovered along with other soft commodities [...]

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