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Markets brush off GDP. Grains continuing to rally on weather, as soybeans lead. Livestock react and head lower.
Markets open higher except feeders on Thursday, after negative GDP numbers. Michelle Rook talks with Luke Swenson of The Money Farm.
The Fed raised interest rates .75 basis points for the second consecutive month. The market was largely anticipating this move and now turns its attention to how long this aggressive pace is going to last.
Livestock are mixed, while grains continue to push higher on weather and fund buying. How high will we go?
Weather trumped the Fed news as row crops continued higher, also pushed by new contract highs in meal. Wheat set back on big spring wheat tour yields. Livestock ended higher except nearby live cattle.
The House recently passed the Lower Food and Fuels Cost Act which includes a special USDA investigator. However, there’s divide on if this is the right approach to restoring competition in the cattle market.
Soybeans continue their big rally pushed by weather and new contract highs in meal, wheat is lower and corn is caught in the middle. Hogs rebounding, with the cattle mixed. Markets await Fed announcement.
Grains open mostly higher except wheat as soybean meal hits contract highs again. Markets are trading weather and awaiting the Fed announcement. Livestock are leaning higher except nearby live cattle.
Soybeans and soybean meal lead the rally in the grains on Tuesday, while livestock futures slide lower.
Grains continue strong at midday pushed by weather, with livestock setting back on higher feed costs.