Grains Higher Led by Short Covering Rally in Wheat Amid Conflicting Reports on Russia Export Ban: Live Cattle and Hogs Also Bounce

USDA and the U.S. Agency for International Development (USAID) announced the release of $1 billion in previously allocated food aid.

Despite being lower for the week, the grain markets all closed higher on Friday and might have been putting in risk premium says Jerry Gulke, president of the Gulke Group.

As drought deteriorates across the U.S., it's a positive signal for growing a big crop in 2024. And analysts say if weather continues to fuel this year's crop, December corn futures could fall into the $3 range by fall.

Grains close higher on short covering and putting in some risk premium.  Live cattle ended higher with steady Southern cash. Hogs broke above chart resistance. Rich Nelson, Allendale, Inc. covers it all.  

Pro Farmer recaps the week's price action for soybeans and shares outlook broken down into the next 5, 30 and 90 day segments.

USDA said this week cow-to-cow transmission is a factor in the spread of avian flu in dairy herds, but it still does not know exactly how the virus is being moved around.