TFM Sunrise Update 12-6-19


Corn futures were firm overnight, but still trending sideways along the 10-day moving average. Expect more consolidation. with a weak presence after failing to move above the 21-day moving average earlier this week.


Soybean futures took another step higher overnight, gaining 6 cents for a potential third consecutive day. A weaker U.S. dollar and some drying concerns in parts of Argentina are viewed as supportive.


Wheat futures were up 1 to 2 cents on spill over support from row crops. A weaker U.S. dollar this week has failed to generate significant support, and prices have finished near the low of the day in three of the previous four sessions. Look for choppy, two-sided trade to finish the week.


Cattle futures are called mixed. Futures’ comeback yesterday after a weak Wednesday helped provide underlying support on steady to stronger cash.


Hog futures are called mixed. Prices have been volatile this week, with the futures holding premium to the index, we expect prices will move lower easier than higher in the days ahead.


Lisa Heder

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