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Grains mixed after the WASDE with very few changes for corn and soybeans. Wheat did see slightly lower U.S. ending stocks and Russian, EU and Ukraine production dropped a total of 8 mmt says Jim McCormick, AgMarket.Net.
Cattle rally on strong cash but face a tug of war due to bird flu news says Scott Varilek, Kooima Kooima Varilek. Hogs try to follow but struggle with sliding cash. Row crops higher, wheat lower correcting pre- report.
Cattle futures came out strong on Monday but failed to find any follow-through in Tuesday’s trade. Outside markets are seeing a risk on trade following a cooler CPI report. Will that act as a tailwind in today’s trade?
Matt Bennett, AgMarket.Net, says traders evened positions Tuesday going into the USDA reports. However, he’s expecting very few revisions on a U.S. basis so he’s looking at global numbers.
From switching to 100% strip-till this past fall to learning to build seed scripts and planting her first crop as a full-time farmer this spring, Sarah Tweeten is making her mark on her family’s Iowa operation.
Grains see a corrective day and WASDE report positioning with wheat sharply higher, row crops lower. Matt Bennett, AgMarket.Net, says cattle also saw profit taking ahead of the Fed announcement.