The grain complex ended mostly lower on Friday. Soybeans were the lone holdout making daily gains and settling near unchanged on the week. Darrell Holaday of Country Futures notes that the delivery of the December contracts is showing where a lot of positions were with the cash market. Especially in the soybean oil complex. The high amount of deliveries against the contract showed the futures market had too much premium and sellers were quickly taking that out at the end of the week.
Meanwhile on the livestock side of the trade cash cattle on the fed side seemed to be steady, but higher. Holaday is cautiously optimistic about the market with continuing drought and dwindling packer margins.
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