Podcast Summary
USDA report impact on corn and soybean markets: The USDA report led to declines in corn and soybean markets due to lower carryout numbers and potential tariff reinstatement. Corn and soybean futures rose slightly, while cattle and feeder cattle futures increased. The Foreign Progress Show highlights new farming technologies and equipment.
The agricultural markets, specifically corn and soybean, experienced significant declines following the USDA's World Agricultural Supply and Demand Estimate report. Corn carryout numbers are down, and there's a possibility of tariffs being reinstated on soybeans if former President Trump wins the election. The commodity markets ended with corn futures up eight to nine cents, soybean futures up seven to eight cents, and wheat futures up four to six cents. Additionally, the livestock market saw cattle and feeder cattle futures rise, while lean hogs finished down. The Foreign Progress Show in Boone, Iowa, is an upcoming event showcasing new farming technologies and equipment. Remember to listen to John Heinberg from Total Farm Marketing tomorrow on Back Roads of Illinois, and don't forget to tune in on YouTube or podcasts.