Drought Pressures Wheat, Feeders Break Out

We saw a shift in price action across the grain markets today, with wheat conditions slipping amid ongoing temperature swings and drought concerns. That drought continues to expand, putting weather back at the forefront of market focus. In livestock, the cattle market moved higher, with feeder cattle posting a breakout. Meanwhile, the hog market remains in a holding pattern, waiting for stronger price direction before fundamentals can take hold.

Tuesday Market Wrap with Mike Zuzolo with Global Commodity Analytics…

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