Soybean futures finished higher following Tuesday’s surprise USDA data along with a solid rally in crude oil prices and weaker U.S. dollar trade. USDA lowered projected soybean yield to 51.2 bpa and that helped lead to higher numbers on the day, Corn was relatively quiet with only minimal changes in the WASDE while wheat was up moderately.
Full recap of the WASDE numbers here: https://americanagnetwork.com/2021/11/soybean-suprises-and-more-in-the-november-wasde-report/
Livestock were quietly mixed on the day Tuesday as the trade is waiting on direction from the cash market this week.
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 Jim McCormick from AgMarket.net on today’s episode of Market Talk below:
https://open.spotify.com/episode/0rSfqjeJ2H133RgZKZcI3b?si=7nOFQHO1SFm_HpAso3y68Q
