Latest / Professional Ag Marketing Podcast / The Opening Look | Wednesday, October 28th 2026

Transcript

The Opening Look | Wednesday, October 28th 2026 · Professional Ag Marketing Podcast

• 0:05
  SPEAKER_00: Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors.
• 0:12
  SPEAKER_00: Good morning and hello world.
• 0:14
  SPEAKER_00: Welcome to another edition of the opening look.
• 0:17
  SPEAKER_00: I'm Nathan Lahr.
• 0:18
  SPEAKER_00: We're gonna start here with a price action read.
• 0:21
  SPEAKER_00: Starting in the grains, corn on the overnight market, uh December corn up two and a half cents to 4.51, following a bit of a weaker trade yesterday.
• 0:31
  SPEAKER_00: Moving into soybeans here, November soybeans are up three and three quarter cents to 1233.
• 0:38
  SPEAKER_00: Looking into the livestock now, lean hogs, very rough day yesterday on these hogs.
• 0:44
  SPEAKER_00: December contract down$2.65.
• 0:49
  SPEAKER_00: Weakness was minimized into the deferreds, but still down over$2 in most contracts.
• 0:55
  SPEAKER_00: Looking at the cattle markets here, feeder cattle were higher yesterday, November contract up$1.47 and a half.
• 1:03
  SPEAKER_00: However, live cattle moved lower in most contracts, down 35 cents in the December contract.
• 1:10
  SPEAKER_00: Looking into some of the fundamental information we've gotten recently, uh to start off with the hogs here on the carcass cutout.
• 1:19
  SPEAKER_00: Cutout was down 71 cents yesterday to 73.09.
• 1:23
  SPEAKER_00: Weakness there was focused on the bellies, butts, and the loins.
• 1:27
  SPEAKER_00: As we continue out to continue to have some pretty weak fundamentals here on the hogs.
• 1:33
  SPEAKER_00: Looking at cattle on that fundamental perspective, uh looking at choice and select values, choice box values were up$2.78 yesterday to$372.22, and select values were up$1.29 to$358.85.
• 1:51
  SPEAKER_00: Moving into kind of the grains here, uh, looking at harvest progress, both uh um North America here uh in the states, harvest progress is pretty baseline.
• 2:02
  SPEAKER_00: Uh, we're looking at 60% complete on corn and very close to average on soybeans.
• 2:08
  SPEAKER_00: Uh, South America, they're planting down there and it's been screaming ahead.
• 2:12
  SPEAKER_00: Paces looking really good.
• 2:14
  SPEAKER_00: Uh no concerns.
• 2:15
  SPEAKER_00: However, if we do have some weather moving to South America, you could see the markets jump off of that.
• 2:22
  SPEAKER_00: Looking into what you can look out for this week uh in terms of market movers potentially here.
• 2:28
  SPEAKER_00: Uh, of course, the Middle East conflict, uh, Russia-Ukraine conflict, always a market mover there.
• 2:34
  SPEAKER_00: Uh, and we do have some financial news coming out today.
• 2:38
  SPEAKER_00: The Federal Reserve of the United States is meeting.
• 2:41
  SPEAKER_00: Uh, looking to hold rates steady, is what the trade is expecting, um, but could be a shock there, certainly, uh, if they don't.
• 2:50
  SPEAKER_00: Uh, we also have some big earnings releases coming out this week uh on the tech sector.
• 2:55
  SPEAKER_00: That has historically been a big market mover, uh, especially in the SP 500 uh and NASDAQ, which also can bleed over into our egg commodities.
• 3:05
  SPEAKER_00: Ladies and gentlemen, uh, I've been Nathan Lahr, and this has been the opening look.