Outside Markets Friendly, But Ample Supplies Continue To Cap Grains' Upside

Posted on 03/09/2017 10:24 AM

Grain and soybean futures benefited from some additional short-covering this week, adding to ideas near-term lows may be in place for these markets. Soybeans extended gains as the week progressed thanks to a sharp pullback in the U.S. dollar index on a more-dovish stance for the Federal Reserve and ongoing political turmoil in Brazil. The corn market consolidated as attention shifted back to plentiful global grain stocks. Recognition of plentiful supplies weighed on the wheat market at week's end as concerns faded about a weekend cold snap and building dryness in winter wheat country.

Pro Farmer News Editor Megan Vick highlights this week's Pro Farmer newsletter below:

Expectations for another week of higher cash cattle trade amid a surge in beef prices lifted that market. Lean hog futures shifted to more of a followers' role and tagged along for the ride higher.

We take a look at extended weather outlooks -- and much more -- in this week's Pro Farmer newsletter.

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