Grain and soybean futures opened the new year under a wave of fresh selling pressure. That drove corn and wheat futures to new contract lows, while soybeans held just above their fall lows. But the selling pressure was replaced by a round of fund-led short-covering to close out the week. Corn futures still posted losses for the week, but soybeans and wheat managed slight gains.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Cattle futures showed signs of rolling over after strong corrective gains to close out last year. Pressure on cattle futures came despite surging boxed beef prices and stressful feedlot conditions across the Plains and Midwest. Lean hog futures posted weekly gains on support from firmer cash hog bids coming out of the holidays.
We take a detailed look at El Nino peaking: impacts and what lies ahead -- and much more -- in this week's Pro Farmer newsletter.
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