Cattle finished down .500-1.00 today, all contracts are now below 120.00 for the first time since mid April.
This mornings export inspections report was better than expected in corn, soybeans and wheat. Corn exports were reported at 47.98 million bushels, we now need to average 35.4 million bushels per week to reach the USDA yearly total.
The grain trade is lower today mostly based upon improved weather forecasts for the 6-10 and 8-14 day time period. The forecasts look for rain to fall over 85-90% of the grain belt with .5 to 2
Lower markets as we begin trading following the long holiday weekend. July soybeans traded to the lowest level since March 2016. Nearby corn futures remain sideways to lower as traders contemplate wet conditions in the ECB versus favorable conditions in
The grain markets have been watching the announcements made by President Trump and his policies towards trade and how it could affect the agricultural sector. The concern stems from Trump officially withdrawing from the Trans Pacific Partnership