Outside markets are showing some cooling this morning. Crude oil has pulled back after surging overnight following the U.S. attack on Iran and concerns about a broader conflict. President Trump indicated the situation could stretch on for weeks, though much will depend on U.S. objectives and strategy moving forward.
Attention is also turning to the Strait of Hormuz, where any disruption could create challenges for fertilizer movement and global supply chains.
The dollar index is trading higher, adding additional pressure to commodities. Meanwhile, weather in South America is being described as generally benign, limiting fresh weather premium in the grain markets.
In livestock, cattle continue to feel cash market pressure, weighing on the trade.
Monday Market Wrap Up with Jacob Burks with AgMarket.Net
