Latest News From Brian Grete

Outside markets and global economic concerns weighed on grain and soy markets overnight.

Both placements and marketings were near the top end of pre-report estimates.

Outside markets weighed heavily on the grain and soy complex overnight as the U.S. dollar strengthened to a fresh 20-year high and front-month crude oil dropped to near $80.00.

The smaller-than-normal rise in frozen meat stocks came despite hefty monthly increases in beef and pork production, implying demand was strong and outpaced supplies.

Drought conditions expanded and intensified in HRW areas of the Plains over the past week.

Winter wheat markets and corn futures are mildly favoring the downside after two-sided trade overnight, while soybeans and spring wheat are mixed.

Boxed beef, pork cutout prices facing heavy pressure.

Fed appears willing to risk a recession as it tries to tame inflation.