Market Analysis: Tomm Pfitzenmaier (April 5, 2019)




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Summary: Planting delays and the potential for a major trade deal was a rising tide that lifted all boats. For the week, May wheat gained 10 cents while the nearby corn contract rose 6 cents. A combination of good export sales and a glimmer of hope there would be a U.S.-China trade agreement helped push the May soybean contract 15 cents higher. May meal improved $1.50 per ton. May cotton expanded higher by 64 cents per hundredweight. Over in the dairy parlor, May Class III milk futures added 29 cents. The livestock market was swept up in the optimism for a trade deal. June cattle added $1.35.