01/05/2025 Sunday Market Preview

Grain futures are vulnerable to follow-through selling after the poor finish Friday. Still eligible to change attitudes will be any possible developments on renewable fuels policy guidance that the public is waiting for. Traders could also move to cover shorts if anticipation grows for a friendly crop report. In the Headlines Friday’s slide made March corn futures finish the week lower by 3 1/4 cents. March beans managed to hold a gain of 2 cents. Nearby Chicago wheat was down 17 1/4 while KC wheat dropped 15 1/2. February live cattle jumped $3.40 and January feeders were up $3.45. February hogs lost $3.37 last week. Last Thursday’s session was example of the type of risk-off or flight-to-quality buying that can develop in the face of national security concerns like those that were stoked by the domestic terror attacks in New Orleans and Las Vegas. It was one of the typically rarer occurrences of both the dollar index and gold futures rallying simultaneously. The dollar and metals had just previously been moving in opposite directions as the greenback strengthened due to rising bond yields, which also diminished the comparative value of gold and silver. Dry weather in Argentina was a bullish…