Soybeans remain one of the stronger areas of the grain market despite Friday’s selloff. Martinson Ag Risk Management President Randy Martinson says soybeans reached new contract highs before the latest USDA report. Strong demand continues to provide support. Corn has also backed away from its recent highs but remains near the upper end of its trading range. Martinson described USDA’s latest report as friendly for corn and said it should provide some stability. Wheat continues to find some support from geopolitical concerns in the Black Sea region and Middle East, but Martinson said stronger demand is needed. On the livestock side, Martinson puts cattle in the “not hot” category for now. Cattle had a stronger week, but he wants to see whether the market can hold those gains and break above recent levels. Click here to listen to the full report.
