The correction that began on Tuesday morning continues, with July corn, beans and wheat all down sharply to begin, but the soy complex appears to be bouncing from the overnight lows. The feeder cattle and lean hog contracts are back to trading higher as Wednesday offers another day of opportunity. The feeder cattle contracts are eyeing the May corn contract as it’s the only contract month trading higher while the rest of the corn complex falls lower. There’s yet to be any cash cattle trade develop but by the day’s end, bids could be offered.
Farm and Ranch Director Jesse Allen has the latest: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=845