Market Analysis: John Roach (August 9, 2019)




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Summary: Dry weather, a planned trade meeting and anticipation of Monday’s report helped the commodity markets with a strong finish. For the week, September wheat gained 9 cents while the nearby corn contract rose 11 cents. Prospects for a meeting between President’s Trump and Xi and short-covering before Monday’s WASDE pushed the September soybean contract 23 cents higher. September meal climbed $4 per ton. December cotton declined 52 cents per hundredweight. Over in the dairy parlor, September Class III milk futures added a dime. The livestock sector was mixed. October cattle cut $1.08.