Downside risk should be limited into spring given aggressive speculative short positions in corn, soybeans and wheat and the likelihood for slow planting this spring. We interviewed a number of weather watchers on their outlooks for the 2019 growing season for a News page 4 feature.
Meanwhile, poor feedlot conditions and strong export demand limited selling interest in cattle. And hog futures surged to the upside as funds covered shorts and traders priced in hopes of increased Chinese demand amid African swine fever reductions.
You’ll find a lot more discussion on this and other topics in this week’s newsletter. Don’t wait for the mail… download your issue here.