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Market Line
Market Line Report for Monday, May 16th
Market Line
Bearish factors continue to stack up in the cattle market, as prices fall to lows not seen since last October.
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Corn Rallies and Feeder Cattle suffer the consequences.
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Wheat markets consolidate yesterday, outside factors remain constant with inflation, rising fertilizer and fuel prices.
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Commodities started the week off with a rocky start, both corn and wheat lost traction as the trading day continued.
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The Feeder Cattle market held firm last week despite fundamental issues including inflation and rising interest rates.
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Wetter forecast could slow down the upcoming corn planting season, which is already behind the ball compared to previous years.
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Live Cattle cooled off yesterday while Feeders hold steady, despite a run in higher feed prices.
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Grains continue to see a rough patch, as bearish factors stack up driving prices lower.
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Feeder Cattle kicked the week off with a bang, Aug. futures jumping up $5 in just one trading session.
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Some profit taking cooled off the Wheat market last week, driving prices lower to finish the week.
The Agribusiness Update
The FBI is warning ag cooperatives to be wary of possible cyberattacks, and the International Grains Council is forecasting global corn production to drop this year.
The Agribusiness Update
Florida blueberry season is in full swing, and the FBI is warning ag cooperatives of possible cyberattacks.
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Concerns continue in the Wheat market as some foreign countries looking at banning exports.
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The Grain market really popped yesterday, both Soybeans and Corn saw big rallies while wheat held steady.
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Cattle on feed seem to be shifting to lower production, which could prompt a rally in the coming months.
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Wheat was steady to firm while Corn saw more demand, weather playing key role as usual.
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Feeder Cattle found support with a stronger Cash Market and weaker feed prices.
The Agribusiness Update
Georgia soybean producers intend to increase planted acreage by 21% this year, and Ag Tractor and Combine sales drop in March for the first time since July.
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The rally continues in the cattle market, as the market finds strength in demand and the upcoming grilling season.