Brian Grete

Grain and soy futures opened under hefty pressure on weekend rains. Fat cattle futures are under pressure as lean hogs firm.
Corn and soybean basis surges on the rollover in contracts, but cash prices also soar.
The corn and soybean CCI ratings were little changed over the past week, but the spring wheat crop continues to deteriorate.
Corn pressured by weather, spring wheat supported by crop concerns. Hogs due for a corrective bounce, though that may be difficult to muster.
Corn and soybean basis continue to fall but remain higher than the three-year averages.
The spring wheat CCI rating is now 91.1 points below its five-year average.
Boxed beef, pork cutout values rolling over.
Corn, soybean and spring wheat CCI ratings are all below their respective five-year averages for this point in the growing season.
Grain and soy futures are under hefty pressure on improved rain chances in the coming weeks. Feeder cattle futures are sharply higher with fat cattle near unchanged. Lean hog futures are under pressure.
USDA will update its old- and new-crop balance sheets, along with global production and provide the second estimate of the U.S. winter wheat crop.