The soy complex was again the star of the show on Wednesday as we saw more strength in soybean meal and August soybeans again as that contract runs back up near $16. Corn was caught in between soybeans and wheat which found pressure on the day. Overall, ag markets didn’t react much to the Fed announcement of a 75 basis point rate hike on Wednesday afternoon. Lean hogs were strong once again on the day Wednesday as that market moves higher. Cattle were mixed on the session.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
Also, more analysis with Mike Zuzolo of Global Commodity Analytics and Jesse Allen on today’s Market Talk below. Jesse also has a conversation with North Dakota Republican Senator Kevin Cramer about foreign investment in U.S. ag land.