Pro Farmer
The livestock markets showed impressive strength today while the grain and soy complex underwent selling pressure.
The grain and soy complex favored a weaker tone to end the week, though did see some strength into the close.
Live cattle and lean hogs boasted impressive gains, while feeder futures underwent selling pressure under reports feeder imports from Mexico are likely to resume soon.
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Rules still awaited from Treasury/IRS
But Mexico must follow specific steps to restart cattle shipments to U.S.
The grain and soy complex is undergoing modest selling pressure alongside the livestock markets.
Leadership differences on farm bill extension and financial aid to farmers
Corn and wheat traded in tight ranges near unchanged overnight while soybeans favored the downside.
Corn and wheat futures pivoted around changed in light overnight trade, while soybeans favored the downside.
Soybeans saw relative strength today while wheat and corn traded lower. Hogs saw modest strength while cattle futures saw profit-taking.
Hogs saw modest strength today while the cattle markets saw corrective selling.
Weakness in corn futures undercut the soybean and wheat markets today.
CPC forecasts 59% odds of La Niña by January and more than 70% by February.
Weakness is featured across the agricultural complex this morning.
Corn saw profit-taking, soybeans saw modest strength and wheat was caught in the middle in overnight trade.
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