Volatile corn and soybean markets, combined with a tough week for cattle, is how market analyst Kyle Bumsted summed up this week’s market trade.
Corn was able to hit the $5 mark earlier in the week but couldn’t hold those levels through the close on Friday. In the soybean complex, soybean meal had a small push higher to end the week.
Bumsted said he’s also keeping a close eye on basis and carry. Corn basis was slightly improved week over week. He said the spreads can help a producer decide whether to sell grain or store it.
As for the cattle markets on Friday, both live and feeder cattle closed triple digits lower to end the week. However, cash markets were slightly higher to end the week.
Bumsted said cattle complexes could have a shot at higher prices after the first of the year. In the near future, he’ll be watching to see whether livestock complexes see an increase in demand ahead of the holidays.
The Weekly Market Roundup is produced by the Nebraska Rural Radio Association and sponsored by the Nebraska Soybean Board.