A solid finish to the week for the grains with sharp gains posted by corn, soybeans and Minneapolis wheat. A strong energy sector added support. The U.S. Dollar Index made fresh 18-month highs, but this didn’t seem to deter most commodity contracts. New contract highs were set in soybeans, soy oil, canola and palm oil on Friday. Corn came close to new highs and wheat recovered after two days of selling amid continued concerns about Russia and Ukraine. South American weather is also coming more into focus as there are worries about crop losses growing there. We also saw some large export sales of soybeans Friday to Mexico, China and unknown. Livestock also had a decent day with cattle and hog futures trading mostly higher.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis to wrap the week with Jesse Allen and Ted Seifried of Zaner Ag Hedge on today’s Market Talk:
https://open.spotify.com/episode/5T7HbV0SKpnRhiV5PYEMvT?si=_5zDtv6MSVCMSqyVZK6UMQ
