What follows are opening calls for U.S. grain and oilseed markets.
Hog futures rose for the first time in three sessions as wholesale pork surged to the highest price on record, signaling U.S. demand is outpacing the supply of animals available to meatpackers. Cattle also gained.
Hog prices slumped to an eight-month low on signs that U.S. supplies are increasing amid waning demand. Cattle prices also dropped.
Hog futures rose for the fourth time in five sessions on speculation that demand from U.S. meatpackers will increase as profit margins on pork sales improve. Cattle also gained.
"Today's report solidifies the growing bearish outlook, not only in the U.S., but also in the world."
- Don Roose on Aug 12, 2014