Brazil
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 putting the crop at a 54 year low, according to Arlan Suderman, 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.
Dan Basse with Ag Resource Company says grains chopped following crude oil most of the week but rallied on Friday adding in war premium. Plus, soybeans led gains on talk of China buying soybeans.
Scott Varilek of Kooima Kooima Varilek says cash cattle trade hit record levels on Thursday and helped pull futures higher Friday. Grains are trying to recover from the big wash out with crude oil this week.
U.S. ending stocks remain unchanged month-over-month while USDA adjusts global production estimates.
Soybeans started off slightly lower on corrective selling but quickly found buying interest says Randy Martinson of Martinson Ag.
Soybeans were lower by 3 to 4 cents on Friday on profit taking heading into the holiday according to Darren Frye with Water Street Solutions but ended higher for the week.