The U.S. dollar dropped to its lowest level since August and is sitting just above key support. That fueled a fresh wave of speculative investment in commodities and pushed front-month crude oil futures to their highest level since November. The speculative buying also influenced corn, soybeans and wheat as those markets rebounded from the disappointing finish the previous week and posted weekly gains. While traders would typically be focused mostly on weather and planting progress at this time of year, outside markets remain a key component for the grain and soy markets.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Cattle futures showed little net change this week, though price action was volatile. Amid the lack of buying in cattle futures, the cash cattle market softened another $3 across the Plains. Hog futures rebounded from recent corrective losses as the cash market started to show signs of anticipated seasonal price strength.
We talk about South American crops limping to the finish line -- and much more -- in this week's Pro Farmer newsletter.