Closing Market Report- 2/8/21- Grains Move Higher Ahead of Tuesday’s USDA WASDE Report


March contracts of corn, soybeans and the two winter wheats posted double-digit gains Monday, expecting lower ending stocks estimates of corn and soybeans in Tuesday’s WASDE report and showing some concern of bitter cold temperatures this week throughout winter wheat areas. In livestock, it was a good start to the week for the lean hog and live cattle futures, but the feeder cattle can’t say the same. With corn prices shooting higher, feeder contracts were pressured to trade lower as cost of gain became even higher than before.

Farm and Ranch Director Jesse Allen has our full report: