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Ukrainian farmers had been watching the talks to allow resumption of grain exports the last few weeks with great hope, because it’s their only lifeline to be able to plant a new crop this fall.
Grains continue higher putting in weather premium, livestock mixed to lower early on Tuesday.
Grains rebounded Monday putting in war and weather premium. Cattle worked in the USDA numbers from Friday, while hogs saw profit taking.
Cattle turn mixed after the Friday reports, with hogs seeing profit taking. Grains continue to rebound. Michelle Rook talks markets with Scott Varilek of Kooima Kooima Varilek.
Grain return higher after Russia bombs Odesa port, extended weather is also supportive. Livestock setting back. Chuck Shelby with Risk Management Commodities joins Michelle Rook to kick off the week.
While diesel fuel prices are off their summer peak the high cost is hitting hard at the farm level.
Corn and wheat had a tough day technically on Friday after the deal to allow Ukraine exports, but soybeans and livestock ended higher.
Grains mixed at midday with soybeans rebounding off six month lows, corn and wheat under pressure after the Ukraine export deal signing. Livestock rally into reports.
Grains opened lower except beans, continuing to see pressure as the Ukrainian export deal is signed. Livestock open mixed awaiting USDA Reports.
A House Ag subcommittee held a farm bill hearing on Wednesday focused on crop insurance.