Plenty of technical selling pressure and position squaring was seen on Friday in the ag markets. Grains in particular were down hard with the most pressure in soybeans and soybean oil. That spilled into corn and spring wheat as well. Chicago and KC wheat finished close to unchanged on the day.
Meantime, plenty of pressure in cattle and hogs. Cattle couldn’t find higher cash this week while hogs are watching African Swine Fever closely in the Dominican Republic. Overall it was a down day to end the month of July.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis with Jesse Allen and Ted Seifried of Zaner Ag Hedge on today’s episode of Market Talk. PLUS, bonus content with Arlan Suderman on the show from Jesse’s interview this morning on AoA!