It was another rough day in the market trade on Friday as we wrap up a brutal week in the markets. The bearish freight train continued as we saw heavy selling pressure in soybeans, wheat and corn on the day. Funds are continuing to liquidate their long positions thanks to multiple factors including economic and monetary fears. Traders will closely watch weather forecasts over the weekend. The fundamentals in grains really haven’t changed, but they are going to need a bullish story to run back to the upside at this point. Livestock trade was mostly higher on the day Friday, one positive heading into the 4th of July holiday.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis with DuWayne Bosse of Bolt Marketing and Jesse Allen on today’s Market Talk below:
https://open.spotify.com/episode/2qcMgPCFpPmmbWT9FngZED?si=72b205dc894745d0
