Overall, it was an solid day in corn and soybeans. We did fade a little bit at the close which was maybe some early profit taking before the weekend. Export sales were good and we got some soybean sales to unconfirmed (most likely China) this morning. December corn closed up 6 1/4 cents and November soybeans closed up 2 3/4 cents Thursday, supported by concerns of dry conditions in the northwestern Corn Belt. Outside markets were mixed to higher Thursday, relaxing previous concerns about rising coronavirus infections.
Livestock markets were under strong pressure, especially in lean hogs. Weakness in cutouts plus worries about demand seemed to be the reasoning. Also, not a whole lot of movement in cash cattle trade and that kept a lid on the cattle markets Thursday.
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 John Heinberg of Total Farm Marketing as well as a weather update with Eric Snodgrass of Nutrien on today’s episode of Market Talk:
https://open.spotify.com/episode/2LhETlUT7xB9vOmtqHYRY1?si=wiaDn9jNT2-J6L9oa1gZ5w&dl_branch=1
