We saw the soy complex shoot higher today with July soybeans pushing near contract highs over $17 and holding a premium to the August contract; an indication of tightening old crop supplies. Good strength seen in soybean meal and soybean oil today as well. Minneapolis wheat had a solid day coming off the lows and we did see Chicago wheat, Kansas City wheat and corn work off the lows from the overnight as well. At one point, we were in the green, but we faded into the close. Lean hogs had a strong day as well as the stock market.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis with Bryan Doherty of Total Farm Marketing and Jesse Allen on today’s Market Talk below: