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Soybean futures posted double-digit gains, while corn finished slightly higher and wheat was narrowly mixed. Mostly firmer price action as seen in livestock markets today.
After trading firmer for much of the daytime session, soybean futures slipped just below unchanged on the close. Wheat and corn futures posted bigger declines. Cattle futures closed sharply lower, while hogs were slightly to moderately lower on the day.
After being under pressure overnight, grain and soy futures reversed course during daytime trade and finished higher on the day. Traders covered short positions in the cattle market, while hog futures saw buyer interest fade late and futures ended with a slight downside bias.
Traders did a good job anticipating this month's feedlot snapshot.
Corn closed narrowly mixed, with soybeans around 2 cents lower and SRW wheat ended 2 to 3 cents lower. Live cattle closed mixed while feeder futures and lean hog futures were higher.
Corn and soybeans are seeing a limited response to stronger-than-expected weekly export sales. Trade is also quite in the livestock markets this morning.
Buyer interest dried up after a firmer overnight session in the grain markets. Livestock futures were stronger, but off session highs.
As of Saturday, November 28
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