News
Cattle futures led strength across the agricultural complex today
Fed’s Beige Book flags ag strains.
Soybeans led the charge during the week ended May 29, rising 33% from the previous week while corn rose 3%. Meanwhile, new crop wheat sales continued to prove solid.
Grains saw relative strength overnight though saw a modest increase of selling pressure going into the break.
Half of Fed districts report farm-sector weakness amid broader economic easing.
Traders’ focus is split between trade happenings, weather and geopolitics.
Soybeans basis also firmed over the past week.
The livestock markets led strength today while the grain and soy complexes followed to the upside.
Frustrations with China appear to be rising.
Corn led strength overnight, posting impressive gains this morning, while soybeans and wheat followed to the upside.