Midday Market Update- 2/5/21- Soybeans Push Higher While Livestock are Mixed


Soybeans, wheat and meal are maintaining gains, with corn and bean oil under some pressure in quiet trade. The U.S. Dollar Index is weakening again after reaching a new two-month high, as a new and partisan aid package of $1.9 trillion appears ready to be approved by the House. Argentina looks dry, while northern Brazil is wet, disrupting soy harvest. The livestock contracts are seeing mixed support as the cattle contracts veer lower, but the lean hog contracts continue to add to their upward position. The cash cattle market has seen some developments with a light trade being reported in the South at $114 and bids of $113 surfacing in the North.

Farm and Ranch Director Jesse Allen has our full report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1150