After a strong start to Wednesday, we saw the soybean complex fade as we got to the close. It appeared to be some profit taking and also a sharp move in the Brazilian Real that weighed on the soy complex late. Corn held up relatively firm while wheat was solid on the day as the U.S. dollar took a nosedive. The July CPI data showed moderating inflation and that gave strength to commodities and the stock market overall on Wednesday. Livestock were higher led by cattle 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 on today’s episode of Market Talk below. Plus, we continue our unofficial crop tour of the Corn Belt and talk with North Central Iowa farmer Derek Schutjer about his crops at the end of the show.
