Grains and oilseeds moved to the upside on Tuesday amid lower than anticipated crop ratings from USDA on Monday afternoon as corn, soybeans and spring wheat all fell nationally. We also got a relatively surprising yield estimate from the DTN/Gro Intelligence Virtual Yield Tour that show national corn yield below 170 bushels per acre and soybeans below 50 bushels per acre. That all weighed on the trade Tuesday as funds put money back into soybeans while soybean meal was strong again. Corn was up moderately and wheat was choppy all day minus the spring wheat market. Cattle were mostly lower and hogs 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 on Market Talk today with Matt Bennett of AgMarket.net and a look at the Professional Ag Marketing crop tour with Mike Minor on today’s show with Jesse Allen below:
