12/15/2024 Sunday Market Preview

A slightly softer Sunday night open is expected for the grains in follow up of the weak finish on Friday. Crude oil and soy oil futures being higher could possibly spark a bullish attitude shift. Fresh news was limited over the weekend, but several political developments look set to make headlines early on in the new week. In the Headlines It was a struggle towards the finish, but March corn futures held onto a gain of 2 cents last week. March beans were down 4 1/4. Chicago wheat lost a nickel but KC was up 3 1/4. February hog futures fell $1.72 last week while February live cattle jumped $5.85 and January feeders were up $1.82. There was at least some movement by Congress on addressing the farm bill last week, but lawmakers looked to be far apart on whether there should be new funds added to the program if it is extended. Republicans and democrats are arguing about the amount of money allocated for natural disaster payments as well as other types of economic aid for farmers. Another major source of contention are the proposals to use funds from the Inflation Reduction Act, which some politicians are aiming to…