The soy complex got the short end of spread trading against corn on the day Tuesday as we saw multiple factors influence the soy trade. Worries about China lockdowns for COVID, rising energy prices in Europe shutting down crush plants, the new Argentine monetary policy to entice farmers to sell soybeans and more was a weight on the day. Meantime, corn and wheat were firm even with a new 20 year high in the U.S. dollar on Tuesday. Livestock were mostly higher as well.
Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406
More analysis with Matt Bennett of AgMarket.net and Jesse Allen on today’s Market Talk below. Also, a look at this week’s weather ahead with Eric Snodgrass of Nutrien on today’s show.