Trade Deal Takes Step Forward
Active futures prices of U.S. corn, soybeans, cattle and hogs were all higher Friday, boosted by official announcements of a phase one trade agreement between the U.S. and China. March wheat prices were steady to a little higher on a day when the March U.S. dollar index is trading modestly lower.
Livestock Complex Holds Gains Through Closing Friday
All three livestock contracts close significantly higher on Friday
Markets Get Trade Deal Announcement
Markets remain aflutter surrounding news that an agreement has been reached in the ongoing trade issues with China. There are still very few specifics, but this news is more than what was seen earlier, giving markets hope.
Barrels Post Largest One-Week Decline
Class III futures continue to exhibit weakness due to the decline of cheese prices. There does not seem to be a bottom in the market, but it should find some support soon. More trading activity is evident in barrels, but buying continues to take place on the way down.
Prices Rally on Trade News
The announcement Friday that the U.S. and China have made preliminary agreements on a phase one trade deal sparked active support in most markets. This pushed corn and ethanol prices firmly higher, while energy futures also gained momentum Friday.
All Fertilizers' Prices Now Lower
Retail fertilizer prices continued to move lower during the first week of December.
Cotton Ends Session Confused
Cotton finished Friday with mixed results.
Soybeans Pull Grains Higher on News of Trade Deal
Corn ended 2 3/4 to 3 3/4 cents higher, soybeans closed 8 1/4 to 9 1/4 cents higher, canola settled $1.70 to $2.50/metric ton higher, Chicago wheat ended 1 1/2 to 2 1/4 cents higher and HRS settled 2 3/4 cents higher across old-crop contracts.