Market Analysis: Shawn Hackett




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Summary: The commodity markets chopped around waiting for news from the Outlook Forum and then a Friday morning tweet from the President was added into the mix. For the week, May wheat bumped up eleven cents and the nearby corn contract lost a penny. The May soybean contract fell 4 cents as Chinese buying failed to materialize and South American prices continue to be more attractive. May meal dropped $1.80 per ton. May cotton rose 59 cents per hundredweight. Over in the dairy parlor, March Class III milk futures lost 38 cents. The livestock sector finished mixed.