China-Phase One Deal. Details are pretty quiet. Cattle was the market that took this all in as there has been a lot of people that have been short. Holiday trade is in place. Beans rallied but didn’t have the full fireworks many had hoped for. Corn turning positive.
Lower corn & beans for a Friday. Pre-holiday works going on. Look at the basis in the country. Ethanol is making some profits. Dry down late harvest issues. Export markets for both grain & livestock. Feeder cattle lead the way lower. Boxes took a drop which didn’t help the market.
WASDE Report, lower grain numbers, yield potentials for corn & beans. Politics moving into push on trade & USMCA. hogs from down from their limit up trade.