Grain and livestock markets were rather volatile on Thursday as we saw market encounter profit taking and a general correction. Not much had changed with fundamentals, it’s more a matter of some up and down trade action today. Soybean meal did finish higher and it helped pull soybeans higher at one point. Corn ended up being the downside leader. We also saw cattle and hog futures trade higher for much of the day before encountering profit taking as well. Weekly export sales were solid on the beef and pork side and ok in corn and soybeans.
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 Talk with Jesse Allen and DuWayne Bosse of Bolt Marketing: