Market Analysis: Ted Seifried




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Summary: The trade moved sideways as positions are starting to solidify ahead of next week’s planting intentions report. For the week, May wheat lost 14 cents while the nearby corn contract dropped a nickel. A break in crude oil spilled over into the soybean complex. May soybeans shed 16 cents. May meal dropped $3.90. May cotton shrank by $4.30 per hundredweight. Over in the dairy parlor, April Class III milk futures added 4 cents. An up week in the livestock sector, June cattle gained $3.10. May feeders rose $5.20. And the June lean hog contract jumped $5. In the currency markets, the U.S.