RFD-TV Interview: Grain and Livestock Markets (5.12.22)

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Wheat is leading the Grains after the much anticipated USDA Report. After breaking through the top end of the range (1150'0), there is not much technical resistance until the contract highs of 1278'0.

Looking at the new Corn Crop, the USDA lowered the yield to 177. They typically do not talk about yield in this report, which was a surprise to traders.

Live Cattle Cash is trading into the $140-$141 range. June futures are continuing to bleed lower regardless. What has to happen to the $SPY to reverse this downtrend?

$GLD & $SLV have also been selling off with $BTC, which are usually a safe haven trade.

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