Kirsten Rall updates the markets, current as of 9/20/19 at 2:00 p.m.
Soybeans ended lower in Friday’s trade, 9-10 cents lower per bushel. Corn and wheat at the CBOT ended 2-3 lower, while Minneapolis wheat closed 3-4 higher. Locally heavy rain over the next five days will further delay spring wheat harvest activity. Eastern areas of the Canadian Prairies could see harvest disruptions due to rain next week.
Live Cattle closed 27-67 cents lower per/cwt on Friday, while nearby Lean Hog contracts closed $1.15 to $1.70 lower. October Feeder Cattle closed 27 cents higher.
Analysts at financial services company Jefferies say China’s pork supply is unlikely to recover soon after tight market conditions sent prices up 50% year to date due to an outbreak of African swine fever.
Ag Secretary Sonny Perdue confirmed Thursday that at least part of China’s trade team negotiation in Washington, D.C. , this week will take some time to visit U.S. farms.