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ProFarmer
ProFarmer
(ProFarmer)

Corn futures kicked off the week with a bounce after getting routed in the wake of a surprisingly bearish Oct. 9 WASDE report, but then proceeded to slowly edge lower on harvest pressure, a spike higher by the U.S. dollar and a lack of fresh demand news. November soybeans held their ground after the WASDE but sank to six-week lows this week despite renewed Chinese buying. Wheat futures also saw pressure, with improved soil moisture expected to speed planting in the Plains while aiding the crop already in the ground. Traders continue to monitor fighting between Russia and Ukraine that has closed off Black Sea exports. Live cattle rallied to a nine-week high on firm cash expectations, while lean hogs saw more contract lows on weak cash hog fundamentals. We cover all of this and more in this week’s newsletter.

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