Comments: Grain and soybean futures trade was subdued last week with traders staying cautious ahead of Friday's key USDA reports. A weak dollar was supportive for commodity prices all week. Corn futures managed a modest rebound on pre-report short covering and larger-than-expected USDA demand projections, but a near-record USDA crop estimate capped gains. Most soybean contracts extended losses on favorable weather and USDA's confirmation of a larger crop, while wheat futures drove to new lows under further pressure from large supplies and weak demand before staging an upward reversal on Friday. Lean hog futures continued to find support from firmer-than-expected cash prices and technically-driven short covering, while live cattle futures struggled as Plains cash cattle trade disappointed. Click on the Brock logo or call 1-800-558-3431 for more info on our services.
