Tuesday, July 16, 2019 11:50AM CDT
Some view the need for upgraded flood control to improve climate resiliency while others see a need to refocus the U.S. Army Corps of Engineers more on flood control and less on environmental rehabilitation. Either way, a retired Corps commander said the Midwest needs a comprehensive strategy to look at long-term infrastructure needs.
December corn is down 2 3/4 cents per bushel, November soybeans are down 1/2 cents, and September K.C. wheat is down 5 1/2 cents.
Technical traders may feel the live cattle market may be poised to see further losses as the market corrects from its overbought status. Without cash being tested yet this week, futures seem to be unwilling to add further price premium. The upcoming Cattle on Feed report may also keep market volatility to a minimum as traders positions themselves ahead of the report. Hog futures showed a surprising divergence between August and October as spread trading continued.