Brian Grete

Grain and soybeans favored the downside overnight although soybeans recovered on the open. Hog futures are under heavy pressure with cattle futures slightly lower.
Cash livestock fundamentals remain strong.
This was the first weekly uptick in the spring wheat CCI of the growing season.
Corn and wheat futures are higher and soybeans are mixed. Cattle and hog futures are higher to start the week.
Soybean basis soars on rollover to the November contract, but the cash price falls.
Drought continues to hammer the U.S. spring wheat crop, while corn and soybean ratings slipped.
Corn and soybean basis remain much stronger than normal.
The spring wheat CCI rating is now 38.1% below the five-year average for this date.
Soybean, spring wheat cash prices surged this week.
Spring wheat futures exploded overnight amid U.S. and Canadian crop woes. USDA announced a daily SRW sale to China this morning.