February 23, 2017 - Author: Ken Morrison
Pork belly inventory in cold storage hit a record low for January after doing likewise in December. It's not supposed to happen like this, a time when pork bellies are re-stocked for the coming summer BLT season. Read More...

February 22, 2017 - Author: Ken Morrison
The past few weeks have seen a shifting of market leadership with increased money flow into markets previously thought to be 'dead money' and out of the former leaders. Read More...

February 21, 2017 - Author: Ken Morrison
Despite reduced refiner capacity, U.S. demand for gasoline continues to see gasoline inventories grow. With over 31 days usage, the highest in 22 years, the gasoline glut threatens to disrupt the transition to summer-blends that will get underway in earnest by April 1. Read More...

February 18, 2017 - Author: Ken Morrison
Professional money managers were far more aggressive buyers of corn, wheat, and soybeans recently than estimates indicated. It explained the surge in corn open interest that was compounded by producer selling also creating new open interest. Read More...

February 16, 2017 - Author: Ken Morrison
By any measure optimism has surged since the U.S. election yet it's unclear from recent surveys what is driving the high expectations. We drilled down, through our own survey, benefits and concerns expected by a number of people. Read More...

February 15, 2017 - Author: Ken Morrison
The GOP House-proposed border adjustment tax would radically change corporate tax structures focused on taxing imports and exempting exports. Proponents assume a 20% rise in the value of the Dollar, clearly a headwind for U.S. agricultural producers and exporters. Read More...

February 14, 2017 - Author: Ken Morrison
Although many have concerns about possible changes to the RFS mandate, it's important to have a perspective on the outlook for U.S. gasoline demand. Read More...

February 13, 2017 - Author: Ken Morrison
With Brazil corn production expected to return to normal so too will competition vs. the U.S. corn exports return to levels similar to 2 years ago. Read More...

February 11, 20117 - Author: Ken Morrison
New money flows have pushed corn through week's-long resistance but signs of broader support for commodities remain mixed. Read More...

February 9, 2017 - Author: Ken Morrison
Arguably the crop that has long been funds' favorite to short was the star of today's USDA show as upward revisions in wheat exports triggered high-volume buying in futures. We hone in on Spring wheat as becoming interesting again. Read More...

February 8, 2017 - Author: Ken Morrison
USDA will be in agricultural markets' spotlight Thursday with scrutiny on weekly export sales followed by the monthly supply and demand-forecast update. Livestock markets could be among the markets impacted. Read More...

February 7, 2017 - Author: Ken Morrison
This afternoon's estimate of the weekly build in oil and oil-products by API, if confirmed by EIA Wednesday, may set a lower course for energy prices. Read More...

February 6, 2017 - Author: Ken Morrison
The events of 2016 that sparked a late spring rally in soybeans and corn and resulted in beneficial U.S. export demand hardly seem poised to repeat in 2017. Read More...

February 4, 2017 - Author: Ken Morrison
Pork bellies have more than doubled in value since their September low prompting mass-media's attention of a possible bacon shortage. But one market analyst says sending bacon end-users a signal of supply shortage at a time when pork supplies are still rising may do more harm than good. Read More...

February 2, 2017 - Author: Ken Morrison
Among variable crop expense, crop insurance @ $34-$38 is not small change. Wondering if producers ever consider opting out and taking alternative routes to risk management , at more risk, we look at how that might have worked out over the past 10 years. Read More...

February 1, 2017 - Author: Ken Morrison
February means crop-insurance fixture time for spring crops but is also the time when crop producers are putting the finishing touches on crop plans. We compare crop expense estimates of two major Midwest universities and their respective implications. Read More...

January 31, 2017 - Author: Ken Morrison
Today's annual cattle inventory confirmed continued growth in the U.S. beef herd including replacements. Coming in above expectations it offered no clear-cut rebuttal of Friday's above-expectations placements that sent cattle futures reeling. The market will be challenged to hold support levels in cattle. Read More...

January 30, 2017 - Author: Ken Morrison
It's human nature to expect outcomes of similar current market events to be similar to the outcome we last experienced. I focus on the cotton market's near-uniform expectation for a bullish February, perhaps influenced by the recollection of 2010 or 2008. Important current differences to those periods may be worthy of consideration. Read More...

January 28, 2017 - Author: Ken Morrison
Friday's cattle on feed report saw a major surprise in larger December placements likely to result in pressure on June Live Cattle futures. But it also provided evidence herd rebuilding has plateaued after 2 strong years of growth. Read More...

January 26,2017 - Author: Ken Morrison
Posturing between the U.S. and Mexico as they prepare to re-negotiate NAFTA sent a chill through livestock markets today. The absence of a sitting Agriculture Secretary leaves a void in the voice for agriculture as the primary focus has not yet moved beyond manufacturing. Read More...

January 25, 2017 - Author: Ken Morrison
Rising energy inventories and accelerating drilling activity comes at a time that demand for gasoline is down 5% year-over-year. Product-value futures are at critical support and we believe will drag crude oil lower over the next 1-2 months. Read More...

January 24, 2017 - Author: Ken Morrison
Prompted by a subscriber's question, we examine the similarities and differences of soybeans, technically and fundamentally, to two prior periods. Read More...

January 23, 2017 - Author: Ken Morrison
Two widely expected announcements on trade confirmed campaign promises to re-negotiate NAFTA and withdraw from the TPP. The implications will take time to develop but it's reasonable to expect terms of trade for agriculture within NAFTA are unlikely to improve. Replacing TPP will require lengthy bilateral trade negotiations. Read More...

January 21, 2017 - Author: Ken Morrison
Many have been wondering who's driving the surge in open interest. With the aid of the latest CFTC data it's clear the past two weeks have been a story of commercial's providing the selling and managed money funds and indexers willing to buy the offers. Read More...

January 19, 2017 - Author: Ken Morrison
Friday's U.S. Presidential Inauguration has people wondering and anxious if President Trump will deliver on one of his first-day-in-office campaign promises. Read More...

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