Morning Market Report- 6/1/21- Grains Surge to Start Tuesday


Minneapolis wheat leads the ag markets higher on threatening weather in the Northern Plains, northwest and the southern Canadian Prairies. Corn and soybeans reflect solid demand, tight stocks and the continued decline of Brazil’s corn crop potential. The cattle contracts are stepping back into the market’s busy trade with unsettling losses driving prices lower, and lower. The news that broke over the weekend of JBS encountering a cyberattack has greatly affected the market’s outlook. The feeder cattle contracts are dually feeling the pressure as the corn market is trading upward of $0.27 to $0.30 higher in its nearby contracts.

Farm and Ranch Director Jesse Allen has our opening report: