Did the USDA report put a low in for grains?

We posted two separate videos on our site this afternoon. One covers the grain markets reaction to the USDA report, the other covers the rebound in cattle prices.Click this link to watch now

The USDA report was friendly for corn which was evident by the initial price action on the board. A lower carryout suggests that demand is healthy.

On the flip-side, there was a bigger carryout for beans due to lower export demand; in large part due to Chinese reciprocal tariffs.

Wheat was able to rally as well, but the bears remain in control.

Cattle held technical support perfectly yesterday that coupled with ideas of relatively steady cash trade and outside market strength helped with today's price action.

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