News about the signing of Ukraine grain export deal coming up on Friday seemed to be the catalyst for a late day selloff across the grain sector on Thursday. Until that news broke, corn and soybeans were lower amid the continued cooler and wetter forecast for this weekend into next week while wheat was mixed. Once the news broke, grains sold off with soybeans and soybean oil leading to the downside. Meantime, cattle and hogs were mixed to lower on the day except August lean hogs which continued to show upside strength.
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 of Total Farm Marketing and Jesse Allen on today’s Market Talk below. The show also features a beef demand/cattle market discussion with Lance Zimmerman, Senior Beef Analyst with RaboResearch North America.
https://open.spotify.com/episode/43vFpjmIaJrI4w5kJF4Roa?si=InEgeltlRIejUo9RDEqqpQ
