The attention of the marketplace remains on the soybean complex as January beans pushed to a 16-month high mid-week before seeing some profit-taking. Meal continues to show robust strength as well, helping offset losses in soyoil. Corn futures continue to trade largely sideways, weighed down by an expected 2.0 billion bushels carry-out, despite continued outside market strength. With USDA updating their Supply and Demand report next week and an updated production figure, one can expect fireworks to end the week, but some positioning could drive trade earlier in the week. Cattle continues to see persistent volatility as President Trump continues to be dead-set on lowering beef prices by any means, which has quickly shifted sentiment. Hogs continue to undergo persistent selling pressure with little end in sight. We cover all of these items and much more in this week’s newsletter.
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(ProFarmer)