Tuesday saw the release of the July WASDE report from USDA; which came in pretty much as expected. However, more recession fears and outside market pressure caused grains and oilseeds to plummet on the day with heavy selling seen across the board. It was really about money flow on Tuesday and the money was flowing out of grains and into safe haven assets. Feeder cattle though found support and moved sharply higher amid the break in corn. Live cattle and lean hogs followed along with slight strength on the day.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis with Matt Bennett of AgMarket.net on today’s episode of Market Talk with Jesse Allen. Also, a conversation about farmland values, barriers to entry for young farmers, foreign investment and more with Curt Covington of AgAmerica.