Thursday, March 4, 2021 5:37PM CST
During the opening session of Commodity Classic, leaders of the major commodity groups offered their takes on agriculture's moves to focus more on climate change, as well as the Biden administration's drive to lower greenhouse-gas emissions across the economy. Commodity Classic, which is virtual this year, is led by groups for farmers who grow corn, soybeans, wheat and sorghum, as well as the equipment manufacturers.
May corn is down 1 cent per bushel, May soybeans are up 3 1/2 cents, and May KC wheat is up 3 3/4 cents.
Live cattle futures were able to hold well despite steady cash trade developing in the South and less money in the North. This is somewhat disappointing, but not completely unexpected. With weakness in futures and boxed beef, it may be difficult to expect higher prices. Hog supplies are expected to tighten as the year progresses, but significant weakness of cutouts may indicate price resistance or increasing supply.