"Black Friday" in financial markets saw global equities plunge with follow through in U.S. equities. Increasingly, we are seeing negative news in the agribusiness and ag market sectors, including continued low if not record declines in some farm equipment sales. Some bankers are forcing hard actions on some farmers. The crude oil market free fall will eventually be seen as the major culprit of this major down move in market psychology and overall price patterns. Once those markets stabilize, so will the other "outside" markets. Despite the outside pressure, corn futures were little changed, while soybeans were working on slight weekly gains. Wheat futures enjoyed buying early, but the market reversed course Thursday and ended lower.
Pro Farmer Editor Brian Grete highlights this week's Pro Farmer newsletter below:
Cattle futures continued their steep downside correction despite higher cash cattle trade. Meanwhile, hog futures climbed to their highest level since October.
We take a detailed look at the short-term friendly but not long-term bullish USDA's January crop reports -- and much more -- in this week's Pro Farmer newsletter.