Consus Ag Consulting Afternoon Wrap Up

Summary

The episode reviews the afternoon market dynamics for corn, soybeans, wheat, and livestock futures, noting a shift from steady to lower overnight prices before a positive day‑trade bounce driven by soy meal and oil strength and weather concerns in South America. Grain markets saw light short covering but were tempered by slowing export demand and high cash sales, while Chinese corn sales hinted at upcoming spring demand. Livestock futures fell as traders took profits, yet cash markets showed strength in feeder cattle, calves, and pork cutouts, supported by improving weather and rising slaughter numbers. The discussion also highlighted positioning ahead of the upcoming WASDE report, with weak shorts exiting and providing broad market support.