Grains:
December corn closed up 3/4 cents and March corn was up 1/2 cents. November soybeans closed up 12 1/4 cents and January soybeans were up 13 1/4 cents. December KC wheat closed down 1 1/2 cents, December Chicago wheat was up 1 cent, December MIAX Minneapolis wheat was unchanged.
Grain markets were sluggish to begin the new week with corn and wheat futures both hitting chart resistance in their path to higher prices. Meanwhile, the soybean complex moved firmly higher again to open the week following a weekend agreement between U.S. and Chinese officials to reopen the dialogue on trade, with more talks planned for later this week ahead of the meeting between President's Trump and Xi at the end of the month. The trade optimism was alive in outside markets as well, with equities higher. However, lower energy markets continue to serve as a headwind to agricultural commodities, with crude oil falling ever closer to the May low to start the week.
Livestock:
The live cattle complex is luckily trading higher early this week, as traders seem to be moving past the emotion turmoil that ran rampant throughout the marketplace on Friday as President Trump stated that he wants beef prices to cheapen. New showlists appear to be lower in all major feeding areas again this week.
After closing lower Friday afternoon, the lean hog complex is back to trading slightly higher, closing mixed, as the market could be finding some technical footing and luckily pork demand was up slightly this morning.