Soybeans close higher for a third session still putting in weather premium. Cattle and hogs also saw strength with end of month and quarter positioning.
Corn sees short covering as well with lower crop ratings by 2% and Mexico buying around 5 million bushels of new crop U.S. corn.
Cattle shook off a bearish a Cattle on Feed placements number, while hogs consolidated. John Payne with Advance Trading, discusses where the markets head next.
Cattle getting some help from ideas the cash market may be close to a bottom. Grains continue to digest Pro Farmer Crop Tour results and weather.
Low Feed Prices Make Cattle Margins Attractive
Wheat sees a short covering bounce, while cattle fall with fund liquidation and lower cash.
Farmer Selling of Old Crop Corn Pushes September Into New Contract Lows
Bears are trading the idea that big crops, get bigger. Meanwhile, cattle rebound on lower corn.
Cattle Rebound But Will the Funds Use This Strength to Liquidate Long Positions?
Wheat, Cattle and Hogs All Higher on Friday