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Markets

Hogs bucked the bearish ag market trend Thursday morning

Corn futures turned lower Thursday morning. After exhibiting considerable strength over the past week, corn futures turned lower this morning. That may have reflected long liquidation before the weekend and next Tuesday’s big USDA reports, but traders may also have been reacting to the equity market losses sustained this week, as well as the morning rebound by the U.S. dollar. Both are seen as negative for commodity demand. May corn futures sagged 2.75 cents to $3.9225/bushel late Thursday morning, while December slid 2.5 to $4.155.

Markets

Modest corn gains topped most other ag markets Wednesday

Corn futures edged higher again Wednesday. Talk of reduced corn plantings apparently supported the corn market again today. Bulls were also encouraged by the early Canadian Wheat Board (CWB) forecast for a 16.2 million tonne annual decline in 2015/16 global production. May corn futures settled up 1.75 cents to $3.95/bushel Wednesday, while December corn inched 0.75 higher to $4.18.

Ag Policy

NPPC on COOL Law: U.S. must avoid retaliation

In congressional testimony today, the National Pork Producers Council said the United States must address its mandatory Country-of-Origin Labeling (COOL) law to avoid trade retaliation from Canada and Mexico.

Markets

Ag markets traded weakly late Wednesday morning

Nearby corn futures edged higher Wednesday morning. Talk of reduced corn plantings is apparently supporting the corn market again today. Bulls were also encouraged by today’s Canadian Wheat Board (CWB) forecast for a 16.2 million tonne annual decline in 2015/16 global production. May corn futures rose 1.0 cent to $3.9425/bushel as the lunch hour loomed Wednesday, while December corn slipped 0.5 to $4.1775.

Markets

Retail gas prices mixed

Retail gas prices across the U.S. are mixed this week.  Prices throughout the country vary, though the average price across the U.S. is only up a penny. The 27-week average is $2.56.

Despite a four cent decrease this week, the West Coast region continues to have the highest gas prices in the country this week, sitting at $2.73 per gallon. The Midwest region saw the largest gain on retail gas prices this week. Up seven cents, gas prices average $2.35 a gallon. 

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