July 27, 2017 - Author: Ken Morrison
The yield estimated for spring wheat @ 38.1 bushels/acre is probably aligned with most people's expectations but the tour officials. in the end, declined to estimate the extent acreage may be abandoned. Read More...

July 26, 2017 - Author: Ken Morrison
Pork bellies set record highs as inventory sets record lows yet everyday seems to see a new menu item featuring bacon. It all spells record retail bacon prices as the only likely means of rationing demand. Read More...

July 25, 2017 - Author: Ken Morrison
Outside reversals following strong openings in grain and soy ended the day on a negative note and put the onus on bulls to defend their positions. Read More...

July 24, 2017 - Author: Ken Morrison
Several of the markets we highlighted in the weekend edition re-tested important support levels. Most managed to hold but 1 more day is needed to confirm and reinforce today's tests. Read More...

July 22, 2017 - Author: Ken Morrison
The week ahead should test the resolve of market participants in cattle and corn futures. Friday's cattle on feed report was the 8th consecutive month placements exceeded expectations setting the stage for larger beef supplies the next few months. Read More...

July 20, 2017 - Author: Ken Morrison
As the week's end approaches crop markets will weigh the outlook for next week's more normal temperatures with the notion the week has likely seen deterioration in corn, soybean, and spring wheat conditions. Read More...

July 19, 2017 - Author: Ken Morrison
USDA will issue two cattle inventory reports after the close of Friday's market; the monthly cattle on feed and the semi-annual all-cattle inventory. Placements have exceeded market expectations 7 consecutive months. Will June placements make it 8? Read More...

July 18, 2017 - Author: Ken Morrison
Price action and other indicators suggest the fund's comfort zone continues to be bearish. We examine a few fundamental reasons that may be influencing their behavior. Read More...

July 17, 2017 - Author: Ken Morrison
Pork bellies continue to set new wholesale price records and may be only a matter of time before retail bacon prices do likewise. Bacon @ $6/lb. proved to have consumer-resistance in 2014 and consumer reaction to retail prices may hold the key to pork and hog values. Read More...

July 15, 2017 - Author: Ken Morrison
Last week's wild rides in grain and oilseed markets may be worthy of a sequel to the 1983 movie Trading Places. It lacked the movie's intrigue of the Duke Brothers stolen crop report from USDA but rivaled the volatility. Read More...

July 13, 2017 - Author: Ken Morrison
Risk happens fast especially when the funds decide they want to reverse course in a hurry. Price and sentiment got pounded but extreme 1-day moves such as today often see the markets re-think and take a breath. Read More...

July 12, 2017 - Author: Ken Morrison
Expectations on yields recently baked into the recent prices didn't stand up to USDA's usual behavior that has been hesitant to make big yield changes in July. Read More...

July 11, 2017 - Author: Ken Morrison
Grain and oilseed prices have had a head-spinning rally entering USDA's updated supply/demand forecast Wednesday. Prices reflect future expectations but USDA's forecast may not reflect the market's anticipation. Read More...

July 8, 2017 - Author: Ken Morrison
I expect USDA's supply/demand update Wednesday could be an important day of reckoning for corn and soybeans where we'll be reminded the June 30 reports were anything but friendly to the corn fundamentals. Read More...

July 6, 2017 - Author: Ken Morrison
The market will need to incentivize additional spring wheat acreage in 2018. Interested in how the market is doing in that endeavor at this early stage, we examine comparative net revenue for alternative crops. Read More...

July 5, 2017 - Author: Ken Morrison
Volatility was the watch-word today especially in all classes of wheat as the market wrestles with the severity of the drought in Spring Wheat and the relative value and relevancy of winter wheat where supply is of less concern even as the rally prices U.S. winter wheat further out of global competition. Read More...

June 30, 2017 - Author: Ken Morrison
Grain's response to USDA's report was particularly interesting as it was surprising considering the bearish implications of the information. It indicates the market's focus remains fixed on summer weather and prices will trend accordingly. Read More...

June 29, 2017 - Author: Ken Morrison
Today's Hogs & Pigs report contained no major surprises and, as long as demand holds, it likely keeps futures within the trading range. But there are a couple faint signs that demand may be at risk. Read More...

June 28, 2017 - Author: Ken Morrison
There are multiple scenarios possible for U.S. spring wheat supplies but each one leads to relatively tight supply and, importantly, a need to ramp spring wheat acreage up in 2018 with implications for corn and soybean acreage. Read More...

June 27, 2017 - Author: Ken Morrison
Where there's smoke, there may be cause for concern. That's how I view the recent developments at JBS, the largest global meat processor and the #2 beef processor in the U.S. Are they too big to fail? Read More...

June 26, 2017 - Author: Ken Morrison
From Cattle to Wheat, surprises provided the catalyst for a couple of the market's biggest price-movers today. Read More...

June 22, 2017 - Author: Ken Morrison
June 15-July 15 has long been my self-proclaimed window of opportunity and risk and tends to be dominated by weather influences. One week in we've seen sentiment change even faster than forecasts but events over the next 3 weeks could be just as important. Read More...

June 21, 2017 - Author: Ken Morrison
If Friday's cattle on feed report verifies the pre-report expectations it will reinforce the signals recently sent by cash and futures markets: Namely supply is now catching up and perhaps overwhelming demand for beef. Read More...

June 20, 2017 - Author: Ken Morrison
Reuters reported more health-conscience Chinese consumers are reducing pork and other fatty foods in their diet. Given China's the preeminent global pork consumer, the main driver in soy protein demand, this seems important. Read More...

June 19, 2017 - Author: Ken Morrison
The diverging paths of wholesale beef vs. cash and cattle-futures indicates an expectation boxed beef will soon begin its summer swoon. Read More...

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