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ProFarmer
ProFarmer
(ProFarmer)

Corn futures kicked off the week with a rally to contract highs after our Pro Farmer crop estimates reinforced expectations USDA will further cut its production outlook. Wheat took over the leadership role, however, after Russian leader Vladimir Putin signaled a sharp escalation of attacks on Ukraine, sending Chicago futures limit up at midweek. Traders are now focused on significant supply disruptions in the Black Sea region. Continued Chinese demand helped boost soybean futures, while soyoil futures were buffeted by fears the Trump administration will boost biofuel blending exemptions. Cattle futures fell to eight-month lows on the southern border reopening and tariff-free imports. Lean hog futures continued to struggle amid weak cash and product fundamentals. We cover all of this and more in this week’s newsletter.

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