Corn futures paused this week after pushing above tough resistance last week. The consolidation following a technical breakout could be a sign the market is gearing up to make the next push higher - if there is positive demand news next week. Soybeans posted gains amid continued strong export demand as China and "unknown" continue to actively buy U.S. soybeans. Wheat futures lost support as the corn market paused and the U.S. dollar index surged to its highest level since early February. Wheat will struggle to find buyers if spillover support from other markets is lacking.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Cattle futures posted strong gains and moved to a premium to the cash market, as traders covered short positions. Hog futures extended their price slide, but late-week short-covering and a narrowing of the discount to the cash market left winter-month contracts just slightly lower for the week.
We have results of our annual land survey -- and much more -- in this week's Pro Farmer newsletter.