Weekly Market Roundup, brought to you by Nebraska Soybean Farmers and Their Checkoff.
Guests: Ben Rand from The Home Agency and Darin Fessler of Lakefront Futures and Options.
Friday’s trading session was marked by the market’s response to the upcoming weather forecasts. Traders were on edge as rain was predicted across the northwestern and northern Corn Belt over the next few days, with parts of the Eastern Corn Belt expecting rain early next week. These weather patterns had a significant impact on market sentiment and pricing dynamics.
To add to the mix, the six to fourteen-day forecast revealed even more promising news. Another weather system is set to sweep across the northwestern Plains, extending its reach to the Corn Belt. Variable rain amounts are expected, further influencing the market conditions.
We’ll also be discussing the impact of these weather forecasts on corn and soybean prices. Soybean prices experienced a rollercoaster ride this week, with a momentary spike to a new three-month high on Wednesday. However, the tides quickly turned as more rain was predicted for both this weekend and later in June, causing prices to plummet once again.
Ben also breaks down the latest in the livestock markets.