Soybeans led our grain markets higher across the board on Wednesday. There is not a lot of news to explain such strength, in light of the U.S. dollar reaching new highs and crude oil under serious pressure. Sure, there were some soybean and bean oil sales announced; but it could be more due to money flow, as funds move into longer ag commodity positions as a hedge against rising inflation. Meantime, cattle were mixed on the session with hogs trading mixed as well giving back some of Tuesday’s gains.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis on today’s market action with Jesse Allen and Arlan Suderman of StoneX on today’s Market Talk episode. And Jesse also talks the fertilizer price and supply situation with Josh Linville of StoneX on today’s show.
https://open.spotify.com/episode/0KAA3bMWP5C7aGHwpknVXD?si=i7F1nGQIRSeO8xjPeJICHg
