Markets End Mixed on Monday: Surprises in WASDE Take Soybeans Sharply Higher

Grains close mixed on Monday with a big rally in soybeans pulling up corn, while wheat ended lower. Cattle were mixed with hogs setting back. USDA dealt a few surprises in the WASDE, including lower soybean yield by 1.4 bpa and 600,000 less acres. Corn yield and ending stocks were right in line with estimates, but is the crop still getting smaller? Cotton production was up around 1 million bales but the market acted like it didn’t buy into the numbers, ending well off lows. Michelle Rook gets full analysis with Darren Frye of Water Street Solutions.