Corn and soybeans surged early this week amid speculation on potential changes to the Renewable Fuel Standard, but late-week profit-taking trimmed gains. This very fluid situation will likely keep market volatility high as rumors will continue until there's an official announcement. Wheat futures followed the corn and soybean markets, though winter wheat contracts struggled to maintain modest gains this morning and spring wheat futures turned lower for the week. Aside from the RFS situation, traders will continue to monitor the South American crops and weather for price direction. USDA's March 9 Supply & Demand Report should feature just minor fine tuning to the domestic balance sheets.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Cattle futures pared gains late in the week despite steady to firmer cash cattle prices and their big discount to the cash market. Hog futures ended lower following a volatile week of trade.
We take a detailed look as Trump speaks on ag-related issues -- and much more -- in this week's Pro Farmer newsletter.
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