After a rough week in the commodity markets, we saw corn and the soy complex rebound some on Friday to head into the weekend. Soybean oil led on the rally in crude oil while new crop corn was stronger than old crop. Weekly export sales were a marketing year low in soybeans and solid for corn but it seemed that some spec funds maybe over did it to the downside and got back in ahead of the weekend and updated weather forecast. Long range models are calling for hot and dry again into July. Wheat markets were under more harvest pressure today and we saw cattle mixed with hogs higher ahead of the weekend.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis with Ted Seifried of Zaner Ag Hedge and Jesse Allen on today’s Market Talk below:
https://open.spotify.com/episode/1YWV6jFK676oEfP2En8xJT?si=1nYHFulJQHmLpJeMYknr2Q
