Wheat futures faced the most price pressure as grain and soy futures softened this week.
USDA's Feb. 9 Supply & Demand Report should be a yawner. But the price reaction to the report and price action the rest of the month is important to farmers. Here's why...
Corn and soybean futures soften after firmer start, with wheat leading losses. Cattle have also softened, with hogs holding onto gains.
Corn and soybeans struggled to find buyer interest, while wheat benefited from short-covering. Livestock futures were firmer.
Grain and soy complex futures higher despite negative outside markets. Live cattle are mixed and hogs are lower.
Corn ended mostly 1 cents lower, with soybeans down 2 cents and wheat 3 to 5 cents lower. Livestock futures favored a firmer tone in mixed trade.
Grain and soy complex futures are under pressure to start the week. After a firmer start, livestock futures have softened.
USDA's Cattle Inventory Report showed the U.S. cattle herd has expanded slightly more than anticipated and will continue to grow, as most categories came in slightly above the average pre-report estimates.
Corn is around 3 cents higher, soybeans are mostly 5 cents higher and wheat is up 1 to 2 cents. Cattle are now favoring a weaker tone and hogs are firmer.
China's cancellation of 395,000 MT of U.S. soybeans for the current marketing year are weighing on soybean futures. Livestock futures have seen two-sided trade, but favoring a weaker tone.
As of Sunday, February 7
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