There was plenty of positive money flow into soybeans, soy meal and soy oil on Monday as well as corn. Corn had to largely tag along with soybeans to maintain a good price ration and fight for acres in 2022 in the US. Most of Monday’s trade could be tied to a weather rally as dryness continues in Southern Brazil and Argentina but also it was largely just positive money flow as a hedge against inflation and year end book squaring. Wheat was under pressure as Russian troops moved away from the Ukraine border; possibly a sign of easing tensions. The livestock markets were quiet as hogs were higher after a bullish hogs and pigs report while cattle were slightly lower after an as expected cattle on feed report.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
