There was plenty of data to hit the market trade on Friday with the June WASDE report as well as fresh inflation data out this morning. When the dust settled we saw corn and wheat markets firm to slightly higher with soybeans under pressure. The WASDE report was fairly routine in nature with only minor changes shown. The inflation helped keep a lid on the markets today as the headline CPI number jumped up to 8.6% this month, a 40 year high. Lean hogs had a solid day to the upside with cattle under pressure.
Farm and Ranch Director Jesse Allen has our closing report:
Also, more analysis with Bryan Doherty of Total Farm Marketing and Jesse Allen on today’s Market Talk below:
https://open.spotify.com/episode/6JTiwLtyPvBZMTYhCDTib5?si=6-lUVC2xQ5G-Ikkzt_hkoQ
