Grains saw a technical bounce with help from outside markets, strong soybean exports and fresh business. Live cattle pushed to new highs for the move with help from higher cash and cutouts. Hogs crawled back to end mostly higher except December, with strong weekly exports and cash supportive. Michelle Rook gets a summary from John Heinberg of Total Farm Marketing.
Grains Rally on Risk on Outside Markets, Soybean Export News: LC Hit Fresh Highs on Higher Cash
Grains up on technical bounce and help from outside markets, strong soybean exports. LC made new highs for the move on higher cash and cutouts. Michelle Rook talks to John Heinberg of Total Farm Marketing.
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Both classes of winter wheat ended limit up on the day as USDA shocked the market with their aggressive production cuts in the May WASDE according to Arlan Suderman, chief commodities economist, StoneX.
Vince Boddicker with Farmers Trading Company, says grain markets rallied on Monday adding risk premium on the war headlines but also positioning ahead of the May WASDE and China summit.
Cattle futures posted lower weekly closes and Brad Kooima with Kooima Kooima Varilek says the action was a red flag to him since it came after record fed cash trade.
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