Good morning,
Markets opened quietly to start the week: equities and energies steady, grains slightly lower.
🌍 Global Politics & Market Mood
- Trump and Putin met on Friday in Alaska, discussing trade and the Ukraine conflict.
- Today, Zelensky and EU leaders visit Washington, D.C.
- Trump continues to push trade and peace negotiations, and so far, equities like the direction.
🌱 Crop Tour Begins
The Pro Farmer Crop Tour kicks off this morning:
- Western leg: South Dakota & Nebraska
- Eastern leg: Ohio & Indiana
Follow updates on X with #pftour25.
The USDA has set an ambitious yield target, but I feel the odds favor lower production by the final January number. Corn’s resilience last week—closing steady despite a very bearish number—suggests the market may agree.
💬 The best cure for low prices is low prices?!
📊 Commitment of Traders – Managed Money
Funds remain bearish on grains, though we saw major short covering in soybeans following last week’s report.
- Corn & Wheat: Still bearish bias
- Soybeans: Heavy short covering
🐂 Livestock: Trend Still Up
- Live Cattle: Long 124k
- Feeder Cattle: Long 33k (down 3,500 contracts, mostly on 8/8’s limit down session)
- Lean Hogs: Long 110k
Cattle remain above key moving averages, potentially supporting the uptrend.
Hogs, however, are showing cracks—December needs to reclaim $84 to keep momentum alive (opinion).
Source: ADMIS
Have a great week!
Nathan
Have questions about your marketing strategy? Call Nathan today! 📞 712-435-7879