Grains were higher across the board on the day on Monday with the exception being some slight profit taking in Minneapolis wheat. Corn, wheat and soy all rejected early weakness to close higher, with corn the strongest. U.S. corn and soybeans are the world’s cheapest offer. Wheat continues to gain ground on tightening U.S. and world stocks, although Minneapolis set back a penny. Lean hogs rebounded from early weakness on the back of a strong product market while cattle were under pressure.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
More analysis with John Heinberg of Total Farm Marketing and Jesse Allen on today’s episode of Market Talk: