Closing Market Report 2/10/23- Grains Surge Higher on Friday Led by Wheat and Soybeans


Wheat markets surged higher on Friday while corn and the soy complex followed moderately higher as well. Russia announced a 5% cut in oil production which pushed WTI Crude Oil higher on the day and more tensions between Russia/Ukraine seemed to add fuel to the bullish fire in grains on the day. Some late day rumors also pointed to China buying more U.S. beans out of the gulf. Livestock were mixed as we watched cash cattle trade to wrap the week.

Farm and Ranch Director Jesse Allen has our closing report:

Also, more analysis with DuWayne Bosse of Bolt Marketing and Jesse Allen on today’s Market Talk. Plus, a conversation about a new Rabobank pork report with Christine McCracken on today’s show: