In a wild trading week, which saw spot May corn move up and down the limit in one day and finish over 84 cents higher, corn closed out the month on a high note. Funds will typically try to dress up the close to suit their position at month end and they were undoubtedly buying corn, soybeans and soy oil. Wheat sloughed off early weakness to go along for the ride.
Feeder cattle futures just can’t seem to catch a break, and with the corn market being relentless in its quest for higher prices, feeders closed down sharply. Lean hog futures have summoned another gust of support as traders are battling resistance levels before the weekend and closed higher with some limit up moves.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406