Soybeans, soybean oil along with Chicago and KC wheat led the grains and oilseeds to the upside once again today. Corn and spring wheat were also fairly strong on the day as soybean meal took a bit of a pause in its bullish run this week. The Fed news and lower GDP indicating a recession didn’t seem to have an effect on the markets as we trade weather concerns heading into August. Livestock were mostly lower today minus August lean hogs that found support again.
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: