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ProFarmer
ProFarmer
(ProFarmer)

Grain futures kicked off the week on a positive note as optimism built ahead of the Trump-Xi summit meeting. Soybean meal remained a standout performer, buoying soybeans as western Corn Belt processors scrambled for supply amid wet weather and harvest delays. Wheat came under pressure on renewed hopes for Russia Ukraine peace efforts while wetter weather in the Plains was seen kickstarting plantings. Harvest pressure began to weigh on corn, while a lack of fresh news out of the Trump-Xi meeting disappointed grain bulls as the week came to a close. Cattle futures saw sideways trade, with ICE raids slowing slaughter rates in the Plains. Hog futures saw modest short covering after hitting 15-month lows as traders prepared to react to USDA’s latest Hogs & Pigs Report. We cover all of this and more in this week’s newsletter.

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