The commodity market for the week ending January 20th was a mixed to lower for most of the grain complex. Index funds are being closely watched as their is some concern that they may be starting to re-balance their positions in commodities and removing a lot of commodity contracts they built up in 2022.
Demand rebounded this week with USDA announcing several flash sales through out the week. Then on Thursday USDA export sales and shipment data showed that the US continues to aggressively sell most grains.
On the livestock side the cash market on fed cattle continues to dwindle with erosion in the beef market. The winter storm that rolled across much of the middle part of the country left feeders with poor gains and pen conditions. Traders will be closely watching the cattle on feed data released Friday afternoon.
Darrell Holaday with Country Futures addresses these points and others here:
