The grain markets bounced higher this week as private forecasters predicted smaller crops compared to the USDA's last report. For the week, wheat prices gained a nickel. Corn prices were more than 12-cents higher.Soybean futures posted 16-cent gains. Soybean meal finished the week $6.60 higher per ton. Cotton futures were 61-cents higher.
In livestock, fed cattle futures gained 32-cents. Feeder cattle were down 13-cents. The lean hog contract finished the week $1.50 higher. In the financials, Comex gold gained $1.70 per ounce. The Euro finished the week 252-basis points higher against the dollar. And, the CRB index closed the week nearly two-and-a-half points higher to 223.45. Here now to lend us his insight is one of our regular market analysts, Doug Hjort. Welcome back.
The grain markets bounced higher this week as private forecasters predicted smaller crops compared to the USDA's last report.