Grains and oilseeds were fairly quiet on the day Monday in two-sided, choppy trade action. Traders are assessing the weekend rains (heavy in some parts of the Corn Belt) as well as looking ahead to Friday’s August WASDE report and that led to mixed action on the day. India possibly lifting it’s 40% import duty on wheat led to some strength in the wheat markets but overall it was a quiet day. Livestock had a decent move to the upside led by lean hogs and feeder cattle.
Farm and Ranch Director Jesse Allen: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
More analysis with John Heinberg of Total Farm Marketing and Jesse Allen on today’s Market Talk below. Also, a look at the weather with Eric Snodgrass of Nutrien on today’s episode.