- We kicked off with the USDA's weekly export numbers. Despite a dip in prices yesterday, soybean exports weren't as disappointing as anticipated.
- Corn exports hit a marketing year low, falling below expectations and continuing a downward trend that we've seen since March.
- On a positive note, some decent flash sales earlier in the week provided a boost to the soybean market.
- We discussed the potential impact of the upcoming WASDE report, due out at 11 AM, with predictions suggesting bullish outcomes for corn, bearish for wheat, and neutral for soybeans.
Livestock Market Overview
- The cattle and hog markets experienced significant volatility, with both taking a hit in the previous session.
- Concerns are growing around the avian flu, with more states implementing restrictions to combat its spread.
- While the avian flu has crossed over to humans, it has not been seen in cattle. Infected cattle are getting sick but are recovering, which may incur additional medical costs but not leading to high mortality rates.
