Wheat futures plunge as the possibility of direct Russia-Ukraine peace talks raises fresh concerns about Black Sea grain supplies. SF Daily host Lorrie Boyer breaks down the latest market moves, weather concerns, and livestock action affecting producers.
🌾 Wheat: Futures slide sharply on potential Russia-Ukraine peace talks and the possibility of increased Black Sea wheat movement.
🌽 Corn & Soybeans: Intense Corn Belt heat adds weather risk, while a major U.S. soybean sale to China provides some support.
🐄 Livestock: Live cattle futures lose 65 cents, feeder cattle finish mixed, and wholesale box beef prices move lower.
🌦️ Weather: Hot conditions continue across the Corn Belt, although temperatures are expected to moderate in the East.
📈 Other major market news: Ethanol production and inventories edge lower, with Midwest production seeing the largest decline. Commodities remain technically overbought, but analysts say fundamentals are keeping them from being considered overvalued.
SF Daily delivers fast, actionable agriculture news covering grain markets, livestock, weather, USDA reports, and ag business.
Subscribe to SF Daily for weekday updates on grain markets, agriculture news, farm weather, livestock, and the stories shaping American agriculture.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
