Last week's corn price declines may be an indicator that corn prices may have topped for the summer. It might be time to sell.
Weather dominated the grain complex most of the week, until the Brexit vote rocked the markets.
Thursday night's Brexit vote for the UK to leave the EU had its impact on the corn market Friday.
From a historical perspective, it looks like the May yield forecast published by the USDA on the WASDE report is a fairly accurate forecast for year-end expectations.
Corn and beans fell Friday after British voters chose to leave the European Union and as wet weather continues in the U.S.
In the June Hogs and Pigs survey, pork producers told USDA they had increased the size of the breeding herd by 1% relative to year-ago levels.
The Hogs and Pigs report can be considered just a little bearish. USDA counted 68.381 million head of hogs in the nation as of June 1.
The normal peak for the lean hog index, the measure of nationwide cash hog prices, is next Thursday. This is not the normal peak for the month, but for the entire year.
Higher feed prices are once again the main story when it comes to reducing prospects for profitability in pork production. Will higher feed prices erase hog profits?
By the end of the day Friday, all live cattle areas were trading at $128 and the demand side of the argument is also interesting.