Corn Rally Continues, Soybeans Pull Back

Posted on 03/09/2017 10:22 AM

Corn futures extended recent price gains this week, though volatility increased as more focus shifted to weather. Strong export and domestic demand continues to provide solid underlying support for the corn market. Soybean futures ended their string of gains at nine weeks, as funds lightened some of their record long position and traders took profits out of the market. But daily soybean export sale announcements today signal there's still hefty demand under the market, which fueled strong gains to close out the week. Wheat futures faded amid seasonal price pressure as harvest activity picked up across the Plains. Early yield reports remain impressive.

Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:

Cattle futures and cash cattle prices both dropped sharply. Traders remain content to keep futures at a steep discount to the cash market. August lean hog futures surged to a new contract high amid fund buying and export demand hopes. Cash hog bids continue to rise seasonally.

We take a detailed look at the Pro Farmer Leading Edge Conference -- and much more -- in this week's Pro Farmer newsletter.

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