Market Analysis: Don Roose


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Grains rallied on weather reports before selling off at the end of this holiday-shortened trading week. For the week ending Thursday, the nearby wheat contract dropped 32 cents while March corn declined a dime. A little re-balancing coupled with mixed reports of moisture in South America impacted the soy complex. The March soybean contract weakened two cents. March meal added $3.20 per ton. March cotton expanded by $5.22 per hundredweight. Over in the dairy parlor, January Class III milk futures improved 84 cents. A mixed week in the livestock sector as February cattle added 35 cents.