There were no major surprises in USDA's February Supply & Demand Report. But the report data reminded trader's there's too much supply and not enough demand for grains and soybeans. That's a concern given building macroeconomic struggles. For the week, corn and wheat futures finished lower as both markets extended their retreat from the early February highs. Soybean futures were holding onto slight gains for the week after double-digit corrective gains Thursday.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Cattle futures posted sharp weekly losses as they followed the plunge in the stock market. The heavy pressure on futures pulled cash cattle prices $2 to $3 lower across the Plains. February lean hog futures were supported by firmer cash hog bids and wintry weather. Deferred hog futures endured a volatile week of trade but showed little net change for the week.
We take a detailed look at USDA's February Supply & Demand Report -- and much more -- in this week's Pro Farmer newsletter.