Market News- POET: Portland 04/17/19 9:04:39 AM
Printer Friendly Version|
|Wednesday, April 17th
- The funds appear to have extended their net short position, which is now estimated to be 10K less than the all-time record short of -281K
- The Trans-Pacific Partnership (TPP) negotiations appear to be moving in a positive direction as the U.S. and Japan agreed to meet in the near future. Contrary to prior talks, agriculture goods are back in the mix for trade discussions which would certainly be welcomed as the U.S. has been grossly uncompetitive in exporting to Japan since the TPP treaty became active in January.
- Chinese hog breeding herd continues to trend lower and will require vast amount of pork shipments to replace recent ASF losses. Poultry, Beef, and aquacultured production is ramping up to offset the losses but will still not be sufficient.
- The forecast for the Midwest continues to be wetter with pockets of dryness. The market continues to monitor planting progress as result.