Analysts expect
Corn yield to go from 183.1 to 182.4
Bean yield to be left unchanged
Trade is trading
Corn yield left unchanged, bean yields raised slightly
Cattle – BB made new lows for the move yesterday, futures remain slightly optimistic about cash
↔Yesterday’s PM BB was choice -0.87 select -2.63 packer BE at 191.05, packer cushion $10.10
↓ BB made new lows for the move yesterday with the new choice + select low now at 602
↔Futures trade remained optimistic about cash this week which is justified with packer profits at $10
↑↓ The current fundamental setup is that packer profits are strong enough to still look for a higher cash trade this week (no cash seen so far) yet BB suggests the longer term move is a slow grind lower
↔Futures are still priced $2 under last week’s cash trade as of yesterday’s close