Corn and soybean futures faced fresh selling this week as massive South American crops weighed on the markets. With South American crop estimates continuing to rise, there is concern export demand for U.S. supplies will dry up, though there hasn't been proof of that yet. The wheat market was also weaker on pressure from rains that moved into the Southern Plains late in the week and are expected to continue next week. Funds were active sellers of corn, soybeans and wheat this week.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Live cattle futures posted strong weekly gains on support from surging cash cattle prices. The Brazilian meat scandal also provided support, as traders sense the U.S. could get some of the export business Brazil loses. After modest corrective gains, price pressure resumed in the hog market. Lean hog futures were pressured by weakness in the cash hog market as market-ready supplies remain hefty.
We take a detailed look at the spring/summer weather outlooks -- and much more -- in this week's Pro Farmer newsletter.
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