It was a nice turnaround Thursday in the grain markets as the soy complex, supported by a sharp move higher in soybean oil and an export sale to Pakistan, helped to lead the grains higher on the day. We saw winter wheat (Chicago and Kansas City) move double digits higher in the front months while spring wheat and corn was firm to quiet. Lots of chart damage has been done in corn the last few days and that market seems to be trading cautiously. Meantime, another strong day in cattle futures while lean hogs were mixed to higher.
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 and Jesse Allen on today’s Market Talk below:
https://open.spotify.com/episode/4OOAZ0GGTQviEIblM9xySV?si=Ql8kpeGSRpG9mfiwtI9O5Q
