Harold House with the Kansas City Trade Group suggests Tuesday will be an active day in the markets and takes a look at the latest Crop Progress Report from the USDA. To hear more from Kansas City Trade Group’s Harold House click below.
Hours after posting a strong 40-cent plus rally on strong buying from both commercial and non-commercial traders, soybeans could find no follow-through friends. The market posted a solid double digit loss overnight, pulling corn and wheat lower with it. Outside commodities were also lower, despite the continued sell-off in the U.S. dollar index.
Expect the lean hog pit to open moderately lower, pressured by deteriorating supply and demand fundamentals. On the other hand, cattle futures should begin on a mixed basis thanks to both residual buying and profit taking.