Closing Market Report 10/17/22- Quiet Day in Grains; Livestock Strong on Monday

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Not a whole lot of fresh news to trade off on Monday’s session and we saw a relatively quiet day in grains. We will continue to trade headlines and we did that early on with wheat moving higher amid more Russian aggression in Ukraine while soybean oil pulled soybeans higher for a time. Profit taking was seen though later in the day as we drifted lower while corn caught the short end of intermarket spreading on the day. Livestock benefited from a break in the U.S. dollar on Monday and found good strength across both lean hogs and cattle futures.

Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406

Also, more analysis on today’s Market Talk below with John Heinberg of Total Farm Marketing. Plus, a look at this week’s weather forecast with Eric Snodgrass of Nurtien and a harvest discussion with John Long from Brevant Seeds.

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