09/29/2024 Sunday Market Preview

Grains look follow through higher after a strong week, but selling pressure may be found as harvest accelerates. The forecast is almost completely clear this week, so it will be full go out in the country. In the Headlines December corn futures were up 16 1/4 cents last week. November beans jumped 53 3/4. December Chicago wheat futures climbed 11 1/2 cents and Dec KC wheat futures gained 12 3/4. October live cattle were up $1.27 while Oct feeders finished the week better by $3.17. October lean hogs were down just fractionally and the December contract lost 85 cents last week. New broke heading into the weekend that Israel’s military had killed the top Hezbollah leader in Lebanon. Israeli officials announced another top commander was also killed on Sunday. Airstrikes against Lebanon continue while Israel debates a ground invasion. Lebanon and its supporters from Iran have not acted to retaliate, but widening of the conflict has the potential to underpin bullishness in the oil market. Spotty rains popped up for Brazil over the weekend, but totals were mostly minimal. The Amazon looks like it will receive moisture this week without much of it spilling over into Mato Grosso or other…