Grain and livestock markets melted down on Tuesday with a risk off day due to end of the month profit taking and more movement on Russia allowing Ukrainian exports. Michelle Rook talked about the slide with John Heinberg of Total Farm Marketing.
Markets Melt Down on Tuesday
Grain and livestock markets melted down on Tuesday.
June 01, 2022 08:45 AM
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Kyle Bumsted of Allendale says corn was taking a breather after 20 cent report gains on Wednesday. Cattle and hogs were down hard.
Dave Chatterton of Strategic Farm Marketing says USDA provided some positive data for the corn market in the WASDE and could be headed for $5.
USDA’s August report cut corn yields by 2.3 bushels per acre while strong export demand tightened ending stocks, avoiding the bearish surprise traders feared from last year.
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