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CBOT grain and soymeal futures closed lower on February 28, 2019, with old-crop corn and soymeal at five-month lows and Chicago wheat at contract lows. Cattle futures also fell, while the January 1 Cattle Inventory showed 94.8 million head, up 500,000 from a year earlier.
Heavy delivery pressure, weak export sales (39 mmt YTD, lowest since 2012/13) and stalled China talks weigh on feed grain and meal prices. Larger cattle inventory signals future beef supply growth, a bearish influence on feeder cattle values.
kyfb.comFeb 28, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
