Grain markets were pressured lower on Tuesday by outside market pressures. Active contracts of corn, soybeans, soy products and all three wheats were lower Tuesday, heavily swayed by rising interest rates, a lower stock market and a new 2021 high in the U.S. Dollar Index. One of the concerns investors have this week is the possibility of a federal government shutdown.
The livestock market was solid on Tuesday with more follow through buying in lean hogs with triple digit strength there. Feeder cattle got back some of Monday’s losses thanks to cheaper grain prices and live cattle were fairly mixed on the day.
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 Matt Bennett of AgMarket.net on today’s episode of Market Talk below: