Grain markets are mixed to higher overnight with the soy complex and wheat markets higher while corn still sits in negative territory. All contracts are well off overnight lows set early in the evening session. Equities are mostly higher overnight with investors taking solace in the solid trends related to coronavirus. The seven-day average in new U.S. coronavirus infections fell to a 3 1/4 month low while single-day infections fell to 3 1/2 month lows. China’s Dalian Commodity Exchange was closed. We now look to Thursday morning’s weekly export sales report to see if any news there moves our grain markets.
On Wednesday, The lean hog and feeder cattle contracts had excellent days as the lean hog market continues to be met with exception fundamental support and the break in the corn market’s higher surge allowed for the feeder cattle contracts to regain some positioning. The cash cattle and cash hog calls for today are steady to $1.00 higher.
Farm and Ranch Director Jesse Allen has our full reports: