Soybeans were the leader in the clubhouse when all was said and done on Friday. Soybeans and meal were very firm on renewed interest in beans by China, strong crush margins and incoming warm and dry weather for Argentina and southern Brazil for last half of December. Rumors have China making more soy purchases. Corn followed along trying to maintain it’s corn/bean price ratio as it fights for acres heading into spring. Wheat was under lots of pressure on thoughts that the U.S. is unlikely to get some of the Saudi tender. Funds have sold wheat, while buying all of the other ags today. Livestock were under pressure as corn and soybeans were higher.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
More analysis with Jesse Allen and Ted Seifried of Zaner on today’s episode of Market Talk below: