Price action coming out of the Memorial Day holiday weekend is often telling of the near-term trend. Bears certainly have the advantage in the soybean markets heading into the weekend, but wheat futures have developed a short-term uptrend and corn continues in its choppy consolidation range. Today's Cattle on Feed Report was price-friendly for deferred live cattle futures but traders will be more interested in post-holiday buying by retailers. We highlight crop expectations and detail our look at the 2015-16 balance sheets -- and much more -- in this week's newsletter.
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